Lake Street Capital Issues Pessimistic Forecast for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its price target lowered by investment analysts at Lake Street Capital from $5.00 to $3.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Lake Street Capital’s target price points to a potential downside of 3.54% from the stock’s current price.

SGHT has been the topic of several other reports. UBS Group started coverage on Sight Sciences in a research report on Friday, December 6th. They issued a “buy” rating and a $5.50 target price on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Morgan Stanley lowered their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Tuesday. Finally, Citigroup cut their price target on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Sight Sciences has an average rating of “Hold” and an average target price of $4.72.

Sight Sciences Trading Down 1.3 %

Shares of NASDAQ SGHT traded down $0.04 during trading hours on Wednesday, hitting $3.11. The company’s stock had a trading volume of 50,744 shares, compared to its average volume of 204,633. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. Sight Sciences has a 12 month low of $3.10 and a 12 month high of $8.45. The stock has a market cap of $157.85 million, a price-to-earnings ratio of -3.05 and a beta of 2.57. The business has a 50-day simple moving average of $3.76 and a 200-day simple moving average of $5.47.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The firm had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million. On average, analysts anticipate that Sight Sciences will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 12,236 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total transaction of $44,049.60. Following the sale, the chief executive officer now directly owns 5,713,197 shares in the company, valued at $20,567,509.20. This represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Link sold 21,831 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $5.61, for a total value of $122,471.91. Following the transaction, the insider now directly owns 663,550 shares of the company’s stock, valued at $3,722,515.50. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 15,000 shares of company stock worth $58,232 and have sold 68,168 shares worth $335,489. 28.90% of the stock is currently owned by insiders.

Institutional Trading of Sight Sciences

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. raised its position in Sight Sciences by 31.1% in the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after acquiring an additional 8,527 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Sight Sciences by 5.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock valued at $1,174,000 after buying an additional 10,000 shares during the period. Rhumbline Advisers increased its stake in Sight Sciences by 40.1% in the second quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock valued at $272,000 after purchasing an additional 11,671 shares during the last quarter. SG Americas Securities LLC purchased a new position in Sight Sciences during the third quarter worth approximately $75,000. Finally, Geode Capital Management LLC raised its holdings in Sight Sciences by 1.6% in the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after buying an additional 12,709 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.