Citigroup Issues Pessimistic Forecast for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its price objective reduced by research analysts at Citigroup from $4.60 to $3.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 23.97% from the company’s current price.

A number of other equities analysts have also weighed in on SGHT. Lake Street Capital dropped their price target on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, January 15th. Morgan Stanley dropped their target price on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. UBS Group decreased their price target on Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.42.

Sight Sciences Price Performance

Shares of Sight Sciences stock opened at $2.42 on Tuesday. The stock has a market cap of $122.83 million, a P/E ratio of -2.37 and a beta of 2.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The stock’s fifty day moving average is $2.95 and its 200 day moving average is $4.45. Sight Sciences has a one year low of $2.29 and a one year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.01). The company had revenue of $19.07 million during the quarter, compared to the consensus estimate of $18.98 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. During the same period last year, the business earned ($0.22) EPS. Sell-side analysts anticipate that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity

In related news, CEO Paul Badawi sold 24,819 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $2.92, for a total transaction of $72,471.48. Following the completion of the transaction, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at approximately $16,574,886.52. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 63,014 shares of company stock worth $197,295 over the last 90 days. Corporate insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

Several hedge funds have recently modified their holdings of SGHT. ProShare Advisors LLC bought a new stake in Sight Sciences in the fourth quarter worth $36,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sight Sciences in the 4th quarter worth about $40,000. Arkadios Wealth Advisors purchased a new stake in shares of Sight Sciences during the 4th quarter valued at about $47,000. WealthTrust Asset Management LLC purchased a new stake in shares of Sight Sciences during the 4th quarter valued at about $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Sight Sciences in the 4th quarter valued at about $50,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

About Sight Sciences

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.