Lake Street Capital Has Lowered Expectations for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its target price cut by Lake Street Capital from $3.00 to $2.50 in a research note released on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms have also recently issued reports on SGHT. UBS Group cut their price target on Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Piper Sandler cut their target price on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup reduced their price target on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a report on Thursday. Finally, Stifel Nicolaus reduced their target price on Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.83.

Sight Sciences Price Performance

Shares of NASDAQ SGHT opened at $2.49 on Thursday. The company has a market capitalization of $126.38 million, a PE ratio of -2.44 and a beta of 2.52. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences has a twelve month low of $2.17 and a twelve month high of $8.45. The firm has a fifty day simple moving average of $2.92 and a 200 day simple moving average of $4.43.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The business had revenue of $19.07 million during the quarter, compared to the consensus estimate of $18.98 million. During the same period last year, the business posted ($0.22) earnings per share. On average, sell-side analysts forecast that Sight Sciences will post -0.99 EPS for the current year.

Insider Activity

In related news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the sale, the chief executive officer now owns 5,676,331 shares in the company, valued at $16,574,886.52. This represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 63,014 shares of company stock worth $197,295 over the last three months. 28.90% of the stock is currently owned by insiders.

Institutional Trading of Sight Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC bought a new position in shares of Sight Sciences in the fourth quarter valued at approximately $36,000. Dynamic Technology Lab Private Ltd purchased a new stake in Sight Sciences in the 4th quarter valued at $40,000. Arkadios Wealth Advisors bought a new position in Sight Sciences during the 4th quarter valued at $47,000. WealthTrust Asset Management LLC purchased a new position in Sight Sciences during the 4th quarter worth $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Sight Sciences in the 4th quarter worth $50,000. 55.51% of the stock is owned by institutional investors.

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.