Sight Sciences, Inc. (NASDAQ:SGHT) Stock Rated “Moderate Buy” by Wall Street Analysts

Sight Sciences, Inc. (NASDAQ:SGHT) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.00.

A number of equities analysts have recently commented on SGHT shares. UBS Group lifted their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. HC Wainwright initiated coverage on Sight Sciences in a report on Thursday. They issued a “buy” rating and a $14.00 price objective for the company. Citigroup lifted their target price on Sight Sciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, October 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th.

Insider Buying and Selling

In other Sight Sciences news, CEO Paul Badawi sold 29,653 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $9.05, for a total transaction of $268,359.65. Following the completion of the sale, the chief executive officer owned 6,092,819 shares of the company’s stock, valued at approximately $55,140,011.95. This represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James Rodberg sold 7,208 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $8.85, for a total transaction of $63,790.80. Following the sale, the chief financial officer directly owned 216,829 shares of the company’s stock, valued at $1,918,936.65. This represents a 3.22% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 47,646 shares of company stock valued at $429,157. Insiders own 30.40% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Conquis Financial LLC acquired a new stake in Sight Sciences during the 2nd quarter worth about $27,000. The Manufacturers Life Insurance Company acquired a new position in shares of Sight Sciences in the 2nd quarter valued at about $60,000. Diversified Trust Co acquired a new position in shares of Sight Sciences in the 1st quarter valued at about $51,000. Ieq Capital LLC acquired a new position in shares of Sight Sciences in the 2nd quarter valued at about $135,000. Finally, Algert Global LLC boosted its position in shares of Sight Sciences by 25.3% during the 2nd quarter. Algert Global LLC now owns 28,266 shares of the company’s stock valued at $153,000 after purchasing an additional 5,706 shares in the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Stock Performance

Sight Sciences stock opened at $8.28 on Monday. The business has a 50 day moving average of $8.43 and a 200-day moving average of $6.09. Sight Sciences has a 1 year low of $3.38 and a 1 year high of $9.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67. The company has a market capitalization of $456.15 million, a P/E ratio of -14.79 and a beta of 2.45.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.10. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. The business had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. On average, equities research analysts predict that Sight Sciences will post -0.52 earnings per share for the current year.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for ophthalmic diseases. The company designs devices intended to address underlying causes of conditions such as glaucoma and dry eye disease, with an emphasis on less invasive procedures that can be performed in clinical settings.

Its product portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to perform canaloplasty and trabeculotomy procedures.