Sight Sciences (NASDAQ:SGHT) Rating Increased to Hold at Wall Street Zen

Sight Sciences (NASDAQ:SGHT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the company. Lake Street Capital boosted their price objective on Sight Sciences from $2.50 to $3.00 and gave the company a "hold" rating in a report on Friday, May 9th. Citigroup reiterated a "neutral" rating and issued a $3.60 price objective (up previously from $3.20) on shares of Sight Sciences in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their price objective on shares of Sight Sciences from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC restated a "hold" rating on shares of Sight Sciences in a research note on Wednesday, April 9th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $4.00 target price (up previously from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Sight Sciences presently has a consensus rating of "Hold" and an average target price of $4.10.

Sight Sciences Price Performance

SGHT stock traded down $0.06 during midday trading on Friday, reaching $4.07. The company had a trading volume of 166,232 shares, compared to its average volume of 212,118. The stock has a 50 day moving average price of $3.64 and a 200-day moving average price of $3.12. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $8.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 10.47 and a quick ratio of 9.99. The company has a market capitalization of $210.42 million, a price-to-earnings ratio of -4.15 and a beta of 2.47.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. Sight Sciences had a negative net margin of 63.24% and a negative return on equity of 54.62%. The firm had revenue of $17.51 million for the quarter, compared to analyst estimates of $16.51 million. Equities research analysts expect that Sight Sciences will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC bought a new position in shares of Sight Sciences during the 4th quarter valued at about $36,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sight Sciences in the fourth quarter worth approximately $40,000. WealthTrust Asset Management LLC bought a new stake in shares of Sight Sciences during the fourth quarter worth $48,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Sight Sciences in the 4th quarter valued at about $50,000. Finally, Wells Fargo & Company MN increased its position in shares of Sight Sciences by 53.4% during the fourth quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock worth $60,000 after acquiring an additional 5,781 shares during the period. 55.51% of the stock is owned by institutional investors.

Sight Sciences Company Profile

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.