Weiss Ratings Reiterates “Sell (D-)” Rating for Sight Sciences (NASDAQ:SGHT)

Sight Sciences (NASDAQ:SGHT)‘s stock had its “sell (d-)” rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Other equities analysts also recently issued reports about the company. Lake Street Capital raised their price objective on Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Morgan Stanley raised their price objective on Sight Sciences from $3.00 to $4.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded Sight Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Citigroup lowered their price objective on Sight Sciences from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Thursday, August 28th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.67.

Sight Sciences Price Performance

Sight Sciences stock opened at $5.28 on Friday. The company has a current ratio of 10.01, a quick ratio of 9.49 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $276.50 million, a PE ratio of -5.50 and a beta of 2.41. Sight Sciences has a 12 month low of $2.03 and a 12 month high of $5.48. The stock has a 50-day moving average price of $3.82 and a two-hundred day moving average price of $3.64.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Wednesday, September 8th. The company reported ($0.81) EPS for the quarter. The firm had revenue of $12.54 million during the quarter. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. Analysts expect that Sight Sciences will post -0.99 EPS for the current year.

Insider Buying and Selling

In other Sight Sciences news, insider Jeremy B. Hayden sold 9,731 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $3.27, for a total value of $31,820.37. Following the completion of the sale, the insider owned 256,590 shares of the company’s stock, valued at approximately $839,049.30. This trade represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul Badawi sold 24,441 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $3.34, for a total value of $81,632.94. Following the completion of the sale, the chief executive officer directly owned 5,962,502 shares of the company’s stock, valued at $19,914,756.68. This trade represents a 0.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,796 shares of company stock valued at $135,173. 30.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds have recently added to or reduced their stakes in SGHT. Tower Research Capital LLC TRC boosted its position in shares of Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after buying an additional 2,875 shares during the last quarter. CWM LLC boosted its position in shares of Sight Sciences by 70.2% during the second quarter. CWM LLC now owns 7,607 shares of the company’s stock valued at $31,000 after buying an additional 3,137 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Sight Sciences by 9.5% during the first quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock valued at $120,000 after buying an additional 4,319 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Sight Sciences by 38.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company’s stock valued at $66,000 after buying an additional 4,453 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Sight Sciences by 26.2% during the second quarter. Intech Investment Management LLC now owns 25,366 shares of the company’s stock valued at $105,000 after buying an additional 5,261 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.