Stifel Nicolaus Has Lowered Expectations for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its price target cut by Stifel Nicolaus from $6.00 to $5.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 78.89% from the company’s previous close.

A number of other brokerages have also recently issued reports on SGHT. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a report on Tuesday, January 14th. Morgan Stanley cut their target price on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Citigroup reduced their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Piper Sandler reiterated a “neutral” rating and set a $5.50 target price (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Finally, Lake Street Capital dropped their target price on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Sight Sciences currently has a consensus rating of “Hold” and an average price target of $4.68.

Sight Sciences Stock Performance

Shares of Sight Sciences stock traded down $0.08 during mid-day trading on Thursday, hitting $2.80. 32,975 shares of the stock were exchanged, compared to its average volume of 218,624. Sight Sciences has a 12 month low of $2.67 and a 12 month high of $8.45. The company has a 50-day simple moving average of $3.38 and a 200 day simple moving average of $5.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The company has a market capitalization of $141.87 million, a P/E ratio of -2.74 and a beta of 2.52.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The business had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $20.41 million. Sell-side analysts anticipate that Sight Sciences will post -1 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Paul Badawi sold 12,236 shares of Sight Sciences stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total transaction of $44,049.60. Following the transaction, the chief executive officer now owns 5,713,197 shares in the company, valued at approximately $20,567,509.20. The trade was a 0.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders acquired 15,000 shares of company stock worth $58,232 and sold 63,014 shares worth $197,295. Company insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Arkadios Wealth Advisors bought a new stake in shares of Sight Sciences in the 4th quarter worth about $47,000. Stoneridge Investment Partners LLC bought a new stake in shares of Sight Sciences in the 4th quarter worth about $55,000. SG Americas Securities LLC increased its holdings in shares of Sight Sciences by 47.6% in the 4th quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock worth $64,000 after buying an additional 5,681 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Sight Sciences in the 2nd quarter worth about $95,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Sight Sciences in the 3rd quarter worth about $136,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

About Sight Sciences

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.