Sight Sciences (NASDAQ:SGHT) Stock Rating Lowered by Piper Sandler

Sight Sciences (NASDAQ:SGHT) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Monday, FlyOnTheWall reports.

Other analysts have also issued reports about the stock. Citigroup cut their target price on Sight Sciences from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 21st. Bank of America lowered their target price on Sight Sciences from $13.00 to $10.00 in a report on Tuesday, June 6th. Morgan Stanley lowered shares of Sight Sciences from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $12.00 to $8.40 in a research note on Thursday, August 24th. Finally, Stifel Nicolaus lowered their price objective on shares of Sight Sciences from $15.00 to $13.00 in a research note on Monday, June 26th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.85.

Sight Sciences Price Performance

Shares of NASDAQ SGHT traded up $0.37 during trading on Monday, hitting $6.51. The company had a trading volume of 78,909 shares, compared to its average volume of 120,866. The firm has a market capitalization of $316.72 million, a price-to-earnings ratio of -4.46 and a beta of 1.15. Sight Sciences has a fifty-two week low of $5.35 and a fifty-two week high of $15.30. The stock has a fifty day simple moving average of $7.55 and a two-hundred day simple moving average of $8.62. The company has a quick ratio of 12.41, a current ratio of 12.97 and a debt-to-equity ratio of 0.25.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, August 3rd. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $23.47 million for the quarter, compared to analyst estimates of $22.29 million. Sight Sciences had a negative net margin of 87.05% and a negative return on equity of 46.11%. On average, research analysts expect that Sight Sciences will post -1.23 earnings per share for the current year.

Institutional Trading of Sight Sciences

A number of large investors have recently bought and sold shares of SGHT. Jackson Square Partners LLC grew its position in Sight Sciences by 34.2% in the 2nd quarter. Jackson Square Partners LLC now owns 1,716,204 shares of the company’s stock valued at $14,210,000 after buying an additional 437,143 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Sight Sciences by 13.5% in the 1st quarter. BlackRock Inc. now owns 1,695,902 shares of the company’s stock worth $14,822,000 after acquiring an additional 201,294 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Sight Sciences by 20.8% in the third quarter. Vanguard Group Inc. now owns 1,365,210 shares of the company’s stock valued at $8,669,000 after acquiring an additional 234,716 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its stake in shares of Sight Sciences by 6.5% during the second quarter. ArrowMark Colorado Holdings LLC now owns 1,242,479 shares of the company’s stock worth $10,288,000 after acquiring an additional 76,002 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Sight Sciences by 103.3% during the second quarter. JPMorgan Chase & Co. now owns 1,117,981 shares of the company’s stock worth $9,257,000 after purchasing an additional 568,135 shares in the last quarter. Institutional investors and hedge funds own 50.71% 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. The company's products include OMNI Surgical System, a therapeutic device used by ophthalmic surgeons to reduce intraocular pressure in adult glaucoma patients; and TearCare System, a wearable eyelid technology for the treatment of dry eye disease (DED) for ophthalmologists and optometrists.