Sight Sciences (NASDAQ:SGHT) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Sight Sciences (NASDAQ:SGHT) issued its quarterly earnings results on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.10, Zacks reports. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. Sight Sciences updated its FY 2025 guidance to EPS.

Sight Sciences Stock Performance

Shares of NASDAQ SGHT traded down $0.03 during trading on Thursday, reaching $5.00. 110,694 shares of the company traded hands, compared to its average volume of 203,877. The firm has a 50 day simple moving average of $3.99 and a 200-day simple moving average of $3.80. The company has a quick ratio of 9.49, a current ratio of 10.01 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $261.85 million, a PE ratio of -5.21 and a beta of 2.47. Sight Sciences has a 52-week low of $2.03 and a 52-week high of $5.32.

Insider Transactions at Sight Sciences

In other news, CEO Paul Badawi sold 24,441 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $3.34, for a total transaction of $81,632.94. Following the sale, the chief executive officer owned 5,962,502 shares of the company’s stock, valued at $19,914,756.68. This trade represents a 0.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeremy B. Hayden sold 9,731 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $3.27, for a total transaction of $31,820.37. Following the sale, the insider directly owned 256,590 shares in the company, valued at approximately $839,049.30. The trade was a 3.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 40,796 shares of company stock worth $135,173. Insiders own 30.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Sight Sciences by 5.5% in the second quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock worth $3,494,000 after buying an additional 43,791 shares during the last quarter. Strs Ohio bought a new stake in shares of Sight Sciences during the first quarter valued at approximately $158,000. Rhumbline Advisers raised its position in shares of Sight Sciences by 9.6% during the second quarter. Rhumbline Advisers now owns 54,597 shares of the company’s stock valued at $225,000 after buying an additional 4,800 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Sight Sciences during the first quarter valued at approximately $128,000. Finally, Jane Street Group LLC bought a new stake in shares of Sight Sciences during the second quarter valued at approximately $148,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SGHT. Weiss Ratings reissued a “sell (d-)” rating on shares of Sight Sciences in a research report on Wednesday, October 8th. Lake Street Capital raised their price objective on shares of Sight Sciences from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Morgan Stanley raised their price objective on shares of Sight Sciences from $3.00 to $4.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Sight Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research note on Thursday, August 28th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sight Sciences presently has an average rating of “Hold” and an average price target of $4.67.

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.