Sight Sciences, Inc. (NASDAQ:SGHT) Receives $3.83 Average PT from Analysts

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $3.83.

A number of research firms have weighed in on SGHT. Piper Sandler dropped their price objective on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Citigroup cut their price target on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. UBS Group lowered their price objective on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Wednesday. Finally, Stifel Nicolaus lowered their price target on Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, March 6th.

Insider Activity at Sight Sciences

In related news, CEO Paul Badawi sold 24,174 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total transaction of $55,600.20. Following the completion of the transaction, the chief executive officer now owns 6,010,580 shares in the company, valued at approximately $13,824,334. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Manohar K. Raheja acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought 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. The trade was a 7.41 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 72,360 shares of company stock valued at $187,792. 28.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

Sight Sciences Trading Up 5.3 %

Sight Sciences stock opened at $2.38 on Thursday. The company’s fifty day simple moving average is $2.58 and its 200-day simple moving average is $3.64. The stock has a market cap of $122.17 million, a P/E ratio of -2.33 and a beta of 2.46. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences has a 12 month low of $2.03 and a 12 month high of $8.45.

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

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.