Sight Sciences (NASDAQ:SGHT) Lowered to “Hold” Rating by Lake Street Capital

Lake Street Capital downgraded shares of Sight Sciences (NASDAQ:SGHT) from a buy rating to a hold rating in a research report sent to investors on Monday, Marketbeat reports. They currently have $5.00 price objective on the stock, down from their prior price objective of $10.00.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Friday, August 2nd. Citigroup lifted their price objective on Sight Sciences from $6.00 to $6.50 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley upped their target price on shares of Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.00.

Sight Sciences Trading Up 4.1 %

SGHT traded up $0.19 during midday trading on Monday, reaching $4.85. 11,341 shares of the company’s stock were exchanged, compared to its average volume of 194,564. The company has a quick ratio of 10.50, a current ratio of 11.01 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $6.10 and a two-hundred day simple moving average of $6.27. Sight Sciences has a one year low of $1.58 and a one year high of $8.45.

Insider Buying and Selling at Sight Sciences

In other news, CEO Paul Badawi sold 12,727 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the sale, the chief executive officer now directly owns 5,725,433 shares in the company, valued at approximately $34,295,343.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Sight Sciences news, CFO Alison Bauerlein sold 10,130 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total transaction of $61,590.40. Following the transaction, the chief financial officer now owns 392,555 shares of the company’s stock, valued at approximately $2,386,734.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Badawi sold 12,727 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the transaction, the chief executive officer now owns 5,725,433 shares in the company, valued at $34,295,343.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,357 shares of company stock worth $574,666. 28.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sight Sciences

Several large investors have recently made changes to their positions in SGHT. State Board of Administration of Florida Retirement System acquired a new position in Sight Sciences in the first quarter valued at approximately $59,000. Steele Capital Management Inc. bought a new position in shares of Sight Sciences in the 2nd quarter worth $67,000. SG Americas Securities LLC acquired a new stake in shares of Sight Sciences during the third quarter worth $75,000. The Manufacturers Life Insurance Company bought a new stake in Sight Sciences in the second quarter valued at about $95,000. Finally, GSA Capital Partners LLP acquired a new position in Sight Sciences in the third quarter valued at about $136,000. 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.