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

Sight Sciences, Inc. (NASDAQ:SGHT) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $4.4167.

A number of equities analysts recently weighed in on SGHT shares. Lake Street Capital upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.00 to $5.00 in a research report on Friday, August 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $4.00 target price (up previously from $3.50) on shares of Sight Sciences in a report on Wednesday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sight Sciences in a research note on Saturday, September 27th. Citigroup raised their price objective on shares of Sight Sciences from $3.60 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Finally, Morgan Stanley boosted their target price 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.

Sight Sciences Price Performance

Shares of SGHT opened at $3.36 on Thursday. Sight Sciences has a fifty-two week low of $2.03 and a fifty-two week high of $6.29. The company has a market capitalization of $175.96 million, a price-to-earnings ratio of -3.50 and a beta of 2.41. The firm has a 50-day simple moving average of $3.74 and a 200-day simple moving average of $3.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 9.49 and a current ratio of 10.01.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.02. The firm had revenue of $19.56 million for the quarter, compared to analysts’ expectations of $18.18 million. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%. Sight Sciences has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Sight Sciences will post -0.99 earnings per share for the current year.

Insiders Place Their Bets

In other Sight Sciences news, insider Jeremy B. Hayden sold 9,731 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $3.27, for a total transaction of $31,820.37. Following the sale, the insider directly owned 256,590 shares in the company, valued at approximately $839,049.30. The trade was a 3.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Badawi sold 24,441 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $3.34, for a total transaction of $81,632.94. Following the completion of the transaction, the chief executive officer owned 5,962,502 shares of the company’s stock, valued at $19,914,756.68. This represents a 0.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,205 shares of company stock worth $133,181 in the last ninety days. 28.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGHT. Tower Research Capital LLC TRC lifted its position in shares of Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after acquiring an additional 2,875 shares during the period. CWM LLC grew its holdings in shares of Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after acquiring an additional 3,137 shares during the period. Rhumbline Advisers increased its stake in Sight Sciences by 9.5% in the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock valued at $120,000 after purchasing an additional 4,319 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Sight Sciences by 38.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company’s stock worth $66,000 after purchasing an additional 4,453 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in Sight Sciences by 26.2% during the second quarter. Intech Investment Management LLC now owns 25,366 shares of the company’s stock worth $105,000 after purchasing an additional 5,261 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.