Sight Sciences (NASDAQ:SGHT) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Sight Sciences (NASDAQ:SGHT) announced its quarterly earnings data on Wednesday. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.09, FiscalAI reports. The firm had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $20.35 million. Sight Sciences had a negative net margin of 60.63% and a negative return on equity of 61.59%.

Sight Sciences Stock Up 2.9%

SGHT stock traded up $0.15 during mid-day trading on Wednesday, hitting $5.41. 503,623 shares of the company were exchanged, compared to its average volume of 279,924. The company has a debt-to-equity ratio of 0.62, a quick ratio of 8.93 and a current ratio of 9.60. The firm has a market cap of $286.03 million, a P/E ratio of -6.01 and a beta of 2.43. The firm’s 50 day simple moving average is $6.46 and its 200 day simple moving average is $5.76. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $9.24.

Insider Activity at Sight Sciences

In related news, CEO Paul Badawi sold 25,356 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $7.43, for a total value of $188,395.08. Following the completion of the transaction, the chief executive officer directly owned 5,937,146 shares of the company’s stock, valued at approximately $44,112,994.78. This represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Rodberg sold 4,405 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $7.82, for a total value of $34,447.10. Following the transaction, the chief financial officer owned 154,440 shares of the company’s stock, valued at approximately $1,207,720.80. This trade represents a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 99,796 shares of company stock worth $719,722 over the last ninety days. 28.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of SGHT. BNP Paribas Financial Markets boosted its position in Sight Sciences by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after acquiring an additional 3,785 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Sight Sciences in the fourth quarter worth $81,000. Tower Research Capital LLC TRC boosted its holdings in Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after purchasing an additional 2,875 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Sight Sciences during the fourth quarter worth $96,000. Finally, Kemnay Advisory Services Inc. bought a new position in Sight Sciences in the fourth quarter valued at $107,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Cantor Fitzgerald set a $8.00 price target on Sight Sciences in a research report on Monday. Citigroup increased their target price on Sight Sciences from $5.50 to $9.10 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley boosted their target price on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. William Blair upgraded shares of Sight Sciences to a “strong-buy” rating in a research report on Friday, January 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Sight Sciences from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.76.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.