Key Points
- Insider sale: EVP Brenton Taylor sold 2,988 Sight Sciences shares at an average price of $8.85, totaling $26,443.80. He retains 261,990 shares, with ownership declining 1.13%.
- Stock and financial performance: SGHT opened at $8.92 and has climbed from a 12-month low of $3.19 to a high of $9.71. The company reported quarterly revenue of $23.39 million and an adjusted loss of $0.08 per share, beating analyst expectations.
- Analyst sentiment: Sight Sciences has a consensus “Moderate Buy” rating from analysts, with a target price of $7.88; five analysts rate it Buy, two Hold, and one Sell.
Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) EVP Brenton Taylor sold 2,988 shares of Sight Sciences stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $8.85, for a total value of $26,443.80. Following the completion of the transaction, the executive vice president owned 261,990 shares in the company, valued at $2,318,611.50. This represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Sight Sciences Trading Up 4.6%
SGHT opened at $8.92 on Tuesday. The company has a current ratio of 4.95, a quick ratio of 4.67 and a debt-to-equity ratio of 0.58. The firm has a market cap of $491.40 million, a price-to-earnings ratio of -15.93 and a beta of 2.45. Sight Sciences, Inc. has a 12 month low of $3.19 and a 12 month high of $9.71. The stock has a fifty day moving average price of $7.93 and a 200-day moving average price of $5.80.
Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.10. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%.The company had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. As a group, equities research analysts anticipate that Sight Sciences, Inc. will post -0.52 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sight Sciences
Several hedge funds have recently modified their holdings of the stock. Conquis Financial LLC purchased a new position in Sight Sciences in the 2nd quarter worth $27,000. WealthTrust Asset Management LLC increased its holdings in shares of Sight Sciences by 14.1% in the first quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company's stock valued at $168,000 after purchasing an additional 5,529 shares during the period. Algert Global LLC increased its holdings in shares of Sight Sciences by 25.3% in the second 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 during the period. Hsbc Holdings PLC raised its stake in shares of Sight Sciences by 21.6% in the second quarter. Hsbc Holdings PLC now owns 46,707 shares of the company's stock worth $255,000 after purchasing an additional 8,297 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Sight Sciences in the second quarter worth about $60,000. Institutional investors and hedge funds own 55.51% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on SGHT shares. Wall Street Zen raised shares of Sight Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. UBS Group raised their target price on shares of Sight Sciences from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sight Sciences in a report on Friday, August 7th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Sight Sciences in a research report on Monday. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sight Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $7.88.
View Our Latest Analysis on SGHT
Sight Sciences Company Profile
(
Get Free Report)
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.
Further Reading
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