Sight Sciences’ (SGHT) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Sight Sciences (NASDAQ:SGHT) in a report released on Friday morning,Benzinga reports.

Other analysts have also recently issued reports about the stock. Lake Street Capital cut shares of Sight Sciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $10.00 to $5.00 in a research report on Monday, November 4th. Morgan Stanley boosted their target price on Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.88.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT traded down $0.45 during mid-day trading on Friday, reaching $4.23. The stock had a trading volume of 472,708 shares, compared to its average volume of 198,859. The business’s 50 day moving average price is $5.93 and its 200 day moving average price is $6.24. Sight Sciences has a 1 year low of $1.58 and a 1 year high of $8.45. The company has a market cap of $212.81 million, a P/E ratio of -3.95 and a beta of 2.74. The company has a current ratio of 11.01, a quick ratio of 10.50 and a debt-to-equity ratio of 0.33.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. The business had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $20.41 million. Research analysts expect that Sight Sciences will post -1 EPS for the current fiscal year.

Insider Activity at Sight Sciences

In other news, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $29,658.24. Following the completion of the sale, the insider now owns 158,687 shares of the company’s stock, valued at approximately $964,816.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jeremy B. Hayden sold 4,878 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total value of $29,658.24. Following the completion of the sale, the insider now directly owns 158,687 shares of the company’s stock, valued at $964,816.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Link sold 20,734 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $5.91, for a total transaction of $122,537.94. Following the transaction, the insider now directly owns 726,838 shares in the company, valued at $4,295,612.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,357 shares of company stock worth $574,666 in the last 90 days. 28.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds have recently made changes to their positions in SGHT. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 buying an additional 9,106 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Sight Sciences in the 1st quarter worth $59,000. Vanguard Group Inc. grew its stake in Sight Sciences by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after buying an additional 81,768 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Sight Sciences by 25.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after buying an additional 76,549 shares during the last quarter. Finally, Steele Capital Management Inc. acquired a new stake in Sight Sciences in the 2nd quarter worth approximately $67,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

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.