WealthTrust Asset Management LLC Buys New Position in Sight Sciences, Inc. (NASDAQ:SGHT)

WealthTrust Asset Management LLC purchased a new stake in shares of Sight Sciences, Inc. (NASDAQ:SGHT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,200 shares of the company’s stock, valued at approximately $48,000.

Other large investors have also added to or reduced their stakes in the company. Arkadios Wealth Advisors purchased a new position in Sight Sciences during the fourth quarter valued at approximately $47,000. Stoneridge Investment Partners LLC purchased a new position in Sight Sciences during the fourth quarter valued at approximately $55,000. SG Americas Securities LLC lifted its holdings in Sight Sciences by 47.6% during the fourth quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock valued at $64,000 after purchasing an additional 5,681 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Sight Sciences during the third quarter valued at approximately $136,000. Finally, Barclays PLC lifted its holdings in Sight Sciences by 317.4% during the third quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after purchasing an additional 38,248 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Sight Sciences Price Performance

Sight Sciences stock opened at $2.72 on Friday. The company has a market cap of $139.63 million, a price-to-earnings ratio of -2.67 and a beta of 2.52. The firm’s fifty day moving average is $2.80 and its 200 day moving average is $4.25. 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, Inc. has a 52-week low of $2.17 and a 52-week high of $8.45.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (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 analysts’ expectations 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 in the previous year, the company earned ($0.22) EPS. Sell-side analysts forecast that Sight Sciences, Inc. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other news, EVP Manohar K. Raheja acquired 10,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the completion of the transaction, the executive vice president now directly owns 145,000 shares of the company’s stock, valued at approximately $395,850. The trade was a 7.41 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Badawi sold 24,819 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the transaction, the chief executive officer now owns 5,676,331 shares in the company, valued at $16,574,886.52. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,014 shares of company stock worth $197,295 over the last quarter. Insiders own 28.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SGHT shares. Citigroup lowered their price target on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Lake Street Capital lowered their target price on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Thursday, March 6th. Piper Sandler lowered their target price on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a report on Thursday, March 6th. Finally, UBS Group lowered their target price on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.83.

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.