Sight Sciences (NASDAQ:SGHT) Rating Reiterated by Needham & Company LLC

Sight Sciences (NASDAQ:SGHT)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a report released on Friday, Benzinga reports.

A number of other brokerages also recently issued reports on SGHT. Citigroup boosted their price objective on shares of Sight Sciences from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Morgan Stanley boosted their price target on shares of Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Piper Sandler restated a “neutral” rating and issued a $6.00 price objective (up from $5.00) on shares of Sight Sciences in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.70.

Sight Sciences Trading Down 4.6 %

SGHT opened at $7.42 on Friday. Sight Sciences has a one year low of $1.04 and a one year high of $9.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 13.01 and a quick ratio of 12.42. The business has a 50 day simple moving average of $6.89 and a two-hundred day simple moving average of $5.66. The firm has a market capitalization of $369.22 million, a price-to-earnings ratio of -6.62 and a beta of 2.75.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, May 2nd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.04). Sight Sciences had a negative net margin of 67.18% and a negative return on equity of 44.45%. The business had revenue of $19.27 million for the quarter, compared to analysts’ expectations of $18.34 million. Analysts predict that Sight Sciences will post -1.13 EPS for the current year.

Insider Buying and Selling

In related news, CFO Alison Bauerlein sold 13,066 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $5.42, for a total transaction of $70,817.72. Following the sale, the chief financial officer now owns 413,182 shares of the company’s stock, valued at $2,239,446.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeremy B. Hayden sold 5,055 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $6.21, for a total value of $31,391.55. Following the sale, the insider now directly owns 163,565 shares of the company’s stock, valued at $1,015,738.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alison Bauerlein sold 13,066 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $5.42, for a total value of $70,817.72. Following the transaction, the chief financial officer now owns 413,182 shares of the company’s stock, valued at $2,239,446.44. The disclosure for this sale can be found here. Insiders sold a total of 47,840 shares of company stock worth $290,061 in the last three months. 28.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sight Sciences

A number of hedge funds have recently bought and sold shares of SGHT. RTW Investments LP purchased a new position in Sight Sciences in the fourth quarter worth about $850,000. UBS Group AG raised its holdings in Sight Sciences by 20,282.6% in the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after acquiring an additional 2,881,750 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Sight Sciences by 198.1% in the 4th quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock worth $305,000 after acquiring an additional 39,333 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Sight Sciences by 51.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after acquiring an additional 9,106 shares in the last quarter. Finally, Jackson Square Partners LLC boosted its stake in Sight Sciences by 12.0% during the 4th quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock valued at $8,409,000 after purchasing an additional 174,737 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.