Sight Sciences (NASDAQ:SGHT) Given “Hold” Rating at Needham & Company LLC

Sight Sciences (NASDAQ:SGHT)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

SGHT has been the subject of a number of other research reports. Stifel Nicolaus lowered their price target on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, March 6th. UBS Group dropped their target price on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a report on Monday, January 27th. Lake Street Capital decreased their price target on Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Thursday, March 6th. Piper Sandler lowered their price target on Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, Citigroup cut their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Sight Sciences currently has a consensus rating of “Hold” and an average target price of $3.83.

Sight Sciences Stock Down 3.8 %

Shares of SGHT opened at $2.26 on Wednesday. The business’s 50 day simple moving average is $2.59 and its 200-day simple moving average is $3.67. 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 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The stock has a market capitalization of $116.01 million, a price-to-earnings ratio of -2.22 and a beta of 2.46.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The business had revenue of $19.07 million for the quarter, compared to analysts’ expectations of $18.98 million. During the same period in the previous year, the company earned ($0.22) EPS. As a group, equities analysts expect that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other news, CEO Paul Badawi sold 24,819 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following 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 trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Manohar K. Raheja purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $2.73 per share, with a total value of $27,300.00. Following the acquisition, the executive vice president now directly owns 145,000 shares of the company’s stock, valued at $395,850. This trade represents a 7.41 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 72,360 shares of company stock valued at $187,792 in the last quarter. 28.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Sight Sciences

Several institutional investors have recently made changes to their positions in SGHT. KCK LTD. bought a new position in Sight Sciences during the 4th quarter worth about $15,925,000. Long Focus Capital Management LLC lifted its position in shares of Sight Sciences by 158.8% in the 4th quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock worth $8,149,000 after purchasing an additional 1,373,535 shares during the period. B Group Inc. bought a new position in shares of Sight Sciences during the fourth quarter valued at approximately $2,291,000. Prosight Management LP boosted its stake in shares of Sight Sciences by 71.1% during the fourth quarter. Prosight Management LP now owns 908,847 shares of the company’s stock valued at $3,308,000 after purchasing an additional 377,625 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Sight Sciences by 654.3% during the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock valued at $1,431,000 after buying an additional 340,906 shares during the period. Hedge funds and other 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.