Sight Sciences (NASDAQ:SGHT) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen has upgraded Sight Sciences' stock rating from "sell" to "hold," reflecting a more optimistic view from equities researchers.
• Sight Sciences shares surged 19.4%, closing at $4.24, with target prices set by other firms ranging from $3.60 to $5.00.
• The company reported earnings that surpassed analysts' expectations, with revenue of $19.56 million for the last quarter, beating the forecast of $18.18 million.

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

Other equities research analysts also recently issued reports about the stock. Lake Street Capital raised shares of Sight Sciences from a "hold" rating to a "buy" rating and boosted their price target for the stock from $3.00 to $5.00 in a research note on Friday. Piper Sandler reissued a "neutral" rating and set a $4.00 price target (up from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Morgan Stanley boosted their price target on shares of Sight Sciences from $3.00 to $4.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Citigroup reissued a "neutral" rating and set a $3.60 price target (up from $3.20) on shares of Sight Sciences in a research note on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.27.

Sight Sciences Price Performance

Shares of SGHT stock traded up $0.69 during trading hours on Friday, reaching $4.24. 274,948 shares of the company were exchanged, compared to its average volume of 122,583. Sight Sciences has a fifty-two week low of $2.03 and a fifty-two week high of $7.05. The stock's fifty day moving average is $3.85 and its two-hundred day moving average is $3.17. The company has a market cap of $219.21 million, a price-to-earnings ratio of -4.42 and a beta of 2.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.01 and a quick ratio of 9.49.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.02. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. The company had revenue of $19.56 million for the quarter, compared to analyst estimates of $18.18 million. Sell-side analysts forecast that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Paul Badawi sold 23,637 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $4.15, for a total value of $98,093.55. Following the completion of the transaction, the chief executive officer owned 5,986,943 shares of the company's stock, valued at approximately $24,845,813.45. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeremy B. Hayden sold 9,160 shares of Sight Sciences stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total transaction of $38,197.20. Following the completion of the transaction, the insider directly owned 266,321 shares of the company's stock, valued at approximately $1,110,558.57. This trade represents a 3.33% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,365 shares of company stock valued at $180,017. 28.90% of the stock is owned by insiders.

Institutional Trading of Sight Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its position in shares of Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company's stock valued at $31,000 after buying an additional 3,137 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Sight Sciences by 9.5% during the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company's stock valued at $120,000 after purchasing an additional 4,319 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Sight Sciences by 38.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company's stock valued at $66,000 after purchasing an additional 4,453 shares during the last quarter. American Century Companies Inc. grew its holdings in Sight Sciences by 10.7% during the 4th quarter. American Century Companies Inc. now owns 51,564 shares of the company's stock worth $188,000 after acquiring an additional 4,964 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in Sight Sciences by 26.2% during the 2nd quarter. Intech Investment Management LLC now owns 25,366 shares of the company's stock worth $105,000 after acquiring an additional 5,261 shares during the last quarter. Institutional investors own 55.51% of the company's stock.

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.