Sight Sciences, Inc. (NASDAQ:SGHT) Short Interest Up 22.4% in March

Sight Sciences, Inc. (NASDAQ:SGHT) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,910,000 shares, a growth of 22.4% from the February 28th total of 1,560,000 shares. Currently, 6.7% of the shares of the company are short sold. Based on an average daily volume of 265,500 shares, the short-interest ratio is currently 7.2 days.

Insider Activity

In other Sight Sciences news, CEO Paul Badawi sold 12,236 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total transaction of $44,049.60. Following the transaction, the chief executive officer now owns 5,713,197 shares of the company’s stock, valued at $20,567,509.20. This represents a 0.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Manohar K. Raheja purchased 10,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $2.73 per share, with a total value of $27,300.00. Following the transaction, the executive vice president now owns 145,000 shares of the company’s stock, valued at $395,850. This trade represents a 7.41 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 63,014 shares of company stock valued at $197,295. Insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

A number of large investors have recently made changes to their positions in the company. ProShare Advisors LLC acquired a new stake in Sight Sciences during the 4th quarter valued at $36,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Sight Sciences during the fourth quarter valued at $40,000. Arkadios Wealth Advisors acquired a new position in Sight Sciences during the fourth quarter valued at $47,000. WealthTrust Asset Management LLC purchased a new stake in Sight Sciences in the 4th quarter worth about $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Sight Sciences in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

SGHT has been the topic of several research reports. Citigroup cut their price objective on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. UBS Group reduced their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Thursday, March 6th. Stifel Nicolaus reduced their price objective on Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Lake Street Capital dropped their target price on Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.83.

Sight Sciences Stock Performance

Shares of NASDAQ SGHT traded up $0.01 during midday trading on Wednesday, hitting $2.30. 81,205 shares of the company’s stock were exchanged, compared to its average volume of 211,533. Sight Sciences has a twelve month low of $1.60 and a twelve month high of $8.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The firm has a market cap of $118.12 million, a P/E ratio of -2.26 and a beta of 2.52. The stock’s 50 day moving average price is $2.71 and its 200-day moving average price is $3.91.

Sight Sciences (NASDAQ:SGHT) last announced 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 analyst estimates of $18.98 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. During the same quarter last year, the firm posted ($0.22) EPS. Equities research analysts anticipate that Sight Sciences will post -0.99 EPS for the current year.

Sight Sciences Company Profile

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.