Sight Sciences, Inc. (NASDAQ:SGHT) Given Average Recommendation of “Hold” by Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have received an average rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.25.

Several research firms have weighed in on SGHT. Citigroup increased their price target on shares of Sight Sciences from $5.15 to $6.00 and gave the company a “neutral” rating in a report on Wednesday. Weiss Ratings downgraded Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th.

Insider Transactions at Sight Sciences

In other news, insider Jeremy B. Hayden sold 12,733 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $70,158.83. Following the completion of the sale, the insider owned 357,037 shares of the company’s stock, valued at approximately $1,967,273.87. The trade was a 3.44% 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, CFO James Rodberg sold 6,902 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $5.36, for a total transaction of $36,994.72. Following the completion of the transaction, the chief financial officer owned 224,037 shares in the company, valued at $1,200,838.32. This trade represents a 2.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 58,566 shares of company stock valued at $318,827. Corporate insiders own 30.90% of the company’s stock.

Institutional Trading of Sight Sciences

A number of institutional investors have recently bought and sold shares of SGHT. BNP Paribas Financial Markets grew its position in shares of Sight Sciences by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after purchasing an additional 3,785 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Sight Sciences in the fourth quarter valued at approximately $81,000. AXQ Capital LP bought a new stake in shares of Sight Sciences in the fourth quarter valued at approximately $89,000. Tower Research Capital LLC TRC boosted its stake in shares of Sight Sciences by 32.7% in 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 period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Sight Sciences during the fourth quarter worth approximately $96,000. Institutional investors own 55.51% of the company’s stock.

Sight Sciences Stock Performance

SGHT stock traded up $0.06 during midday trading on Friday, reaching $5.32. 123,576 shares of the company were exchanged, compared to its average volume of 201,955. Sight Sciences has a one year low of $3.11 and a one year high of $9.24. The firm has a market capitalization of $289.46 million, a price-to-earnings ratio of -7.49 and a beta of 2.38. The business has a 50-day moving average price of $5.04 and a two-hundred day moving average price of $5.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.86 and a quick ratio of 5.48.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). The company had revenue of $19.70 million during the quarter, compared to the consensus estimate of $18.46 million. Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. Equities research analysts forecast that Sight Sciences will post -0.6 EPS for the current year.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.