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 note published on Friday, Benzinga reports.

A number of other research firms also recently weighed in on SGHT. Piper Sandler reissued a neutral rating and set a $6.00 price target (up previously from $5.00) on shares of Sight Sciences in a research report on Friday, May 3rd. Morgan Stanley raised their price objective on Sight Sciences from $5.40 to $6.50 and gave the stock an equal weight rating in a research note on Monday, July 15th. Finally, Citigroup raised their price objective on Sight Sciences from $6.00 to $6.50 and gave the stock a neutral rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $5.70.

Sight Sciences Stock Down 15.0 %

Shares of NASDAQ:SGHT opened at $6.31 on Friday. The company has a quick ratio of 12.42, a current ratio of 13.01 and a debt-to-equity ratio of 0.31. Sight Sciences has a 52-week low of $1.04 and a 52-week high of $9.03. The company has a 50 day moving average of $6.90 and a two-hundred day moving average of $5.67. The company has a market capitalization of $313.99 million, a price-to-earnings ratio of -5.63 and a beta of 2.75.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. Sight Sciences had a negative net margin of 65.90% and a negative return on equity of 44.03%. The business had revenue of $21.37 million during the quarter, compared to the consensus estimate of $21.32 million. During the same quarter last year, the company earned ($0.30) earnings per share. As a group, analysts forecast that Sight Sciences will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CFO Alison Bauerlein sold 10,497 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $6.21, for a total value of $65,186.37. Following the sale, the chief financial officer now directly owns 402,685 shares in the company, valued at $2,500,673.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jeremy B. Hayden sold 5,055 shares of Sight Sciences stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total transaction of $31,391.55. Following the sale, the insider now directly owns 163,565 shares in the company, valued at $1,015,738.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alison Bauerlein sold 10,497 shares of Sight Sciences stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total transaction of $65,186.37. Following the sale, the chief financial officer now owns 402,685 shares in the company, valued at $2,500,673.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,840 shares of company stock worth $290,061. 28.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in Sight Sciences by 180.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock worth $62,000 after acquiring an additional 7,764 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Sight Sciences by 51.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after acquiring an additional 9,106 shares during the period. Steele Capital Management Inc. acquired a new position in Sight Sciences during the second quarter worth about $67,000. State Board of Administration of Florida Retirement System acquired a new position in Sight Sciences during the first quarter worth about $59,000. Finally, Rhumbline Advisers grew its holdings in Sight Sciences by 40.1% during the second quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after acquiring an additional 11,671 shares during the period. 55.51% of the stock is 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.