Sight Sciences (NASDAQ:SGHT) Given “Hold” Rating at Needham & Company LLC

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

Several other brokerages have also recently issued reports on SGHT. Morgan Stanley lowered their target price on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. UBS Group dropped their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Piper Sandler reiterated a “neutral” rating and issued a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Lake Street Capital lowered their target price on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. Finally, Stifel Nicolaus cut their price target on Sight Sciences from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.83.

Sight Sciences Stock Up 2.9 %

SGHT opened at $2.49 on Thursday. The company has a market cap of $126.38 million, a PE ratio of -2.44 and a beta of 2.52. Sight Sciences has a twelve month low of $2.17 and a twelve month high of $8.45. The company has a 50-day moving average price of $2.92 and a 200 day moving average price of $4.43. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, March 5th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). The firm had revenue of $19.07 million for the quarter, compared to analyst estimates of $18.98 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. During the same period in the previous year, the company earned ($0.22) EPS. Sell-side analysts expect that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $2.92, for a total value of $72,471.48. Following the transaction, the chief executive officer now directly owns 5,676,331 shares in the company, valued at approximately $16,574,886.52. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 63,014 shares of company stock valued at $197,295 in the last 90 days. Company insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new position in shares of Sight Sciences during the 3rd quarter worth $136,000. Millrace Asset Group Inc. acquired a new position in Sight Sciences in the third quarter valued at about $874,000. Jacobs Levy Equity Management Inc. boosted its stake in Sight Sciences by 46.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock worth $1,310,000 after buying an additional 65,767 shares during the period. State Street Corp increased its position in shares of Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after acquiring an additional 95,843 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Sight Sciences by 317.4% in the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after acquiring an additional 38,248 shares during the period. Institutional investors and hedge funds 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.