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

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

Sight Sciences Price Performance

Shares of SGHT stock traded up $0.15 during trading hours on Wednesday, hitting $5.41. The stock had a trading volume of 503,305 shares, compared to its average volume of 279,916. The company has a debt-to-equity ratio of 0.62, a current ratio of 9.60 and a quick ratio of 8.93. The stock has a market capitalization of $286.03 million, a price-to-earnings ratio of -6.01 and a beta of 2.43. Sight Sciences has a one year low of $2.03 and a one year high of $9.24. The stock’s 50-day moving average price is $6.46 and its two-hundred day moving average price is $5.76.

Insider Transactions at Sight Sciences

In related news, CTO David Badawi sold 4,836 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $6.62, for a total value of $32,014.32. Following the completion of the transaction, the chief technology officer directly owned 1,912,273 shares of the company’s stock, valued at approximately $12,659,247.26. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James Rodberg sold 4,405 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $7.82, for a total transaction of $34,447.10. Following the completion of the sale, the chief financial officer owned 154,440 shares in the company, valued at $1,207,720.80. This represents a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 99,796 shares of company stock worth $719,722. 28.90% of the stock is owned by corporate insiders.

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. Occudo Quantitative Strategies LP bought a new stake in shares of Sight Sciences during the fourth quarter valued at approximately $185,000. Strs Ohio purchased a new position in Sight Sciences during the 1st quarter worth $158,000. Jane Street Group LLC bought a new stake in Sight Sciences during the 2nd quarter valued at $148,000. AQR Capital Management LLC purchased a new stake in shares of Sight Sciences in the 1st quarter worth $128,000. Finally, Rhumbline Advisers grew its position in shares of Sight Sciences by 9.5% during the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock worth $120,000 after buying an additional 4,319 shares in the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SGHT. UBS Group raised their price objective on Sight Sciences from $7.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Raymond James Financial set a $9.00 target price on shares of Sight Sciences in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sight Sciences in a report on Monday, December 29th. Citigroup increased their price objective on shares of Sight Sciences from $5.50 to $9.10 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Piper Sandler set a $9.00 price objective on shares of Sight Sciences in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sight Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $8.76.

Sight Sciences Company Profile

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.