Citigroup Cuts Sight Sciences (NASDAQ:SGHT) Price Target to $3.00

Sight Sciences (NASDAQ:SGHT) had its price target decreased by Citigroup from $4.60 to $3.00 in a report published on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on SGHT. UBS Group decreased their price target on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Lake Street Capital decreased their price target on Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, January 15th. Stifel Nicolaus decreased their price objective on Sight Sciences from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Piper Sandler restated a “neutral” rating and set a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.83.

Sight Sciences Price Performance

Shares of SGHT opened at $2.49 on Tuesday. The firm has a market capitalization of $126.38 million, a price-to-earnings ratio of -2.44 and a beta of 2.52. 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 one year low of $2.17 and a one year high of $8.45. The stock’s fifty day moving average is $2.92 and its 200-day moving average is $4.43.

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

Insider Activity at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of Sight Sciences stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $2.92, for a total value of $72,471.48. Following the transaction, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. The trade was a 0.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 63,014 shares of company stock valued at $197,295. Corporate insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SGHT. KCK LTD. bought a new position in Sight Sciences in the 4th quarter worth approximately $15,925,000. Long Focus Capital Management LLC boosted its stake in Sight Sciences by 158.8% in the 4th quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock valued at $8,149,000 after buying an additional 1,373,535 shares in the last quarter. B Group Inc. acquired a new stake in Sight Sciences in the 4th quarter valued at $2,291,000. Prosight Management LP boosted its stake in Sight Sciences by 71.1% in the fourth quarter. Prosight Management LP now owns 908,847 shares of the company’s stock worth $3,308,000 after purchasing an additional 377,625 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Sight Sciences by 654.3% in the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock worth $1,431,000 after purchasing an additional 340,906 shares in the last quarter. 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.