The Vanguard Group, Inc. recently announced the acquisition of new stake in Sight Sciences Inc (NASDAQ:SGHT). The institutional investor has increased its shareholding in the Healthcare company by 0.23% to 1.34 million shares with purchase of 3097.0 shares. This fresh investment now brings its stake to 2.75% valued currently at $4.57 million. In addition, SSgA Funds Management, Inc. raised its holdings by 3758.0 to 0.61 million shares. And First Eagle Investment Management has lifted its position by 45.59% or 0.18 million shares – to 0.59 million shares.
With over 4.63 million Sight Sciences Inc (SGHT) shares trading Tuesday and a closing price of $5.34 on the day, the dollar volume was approximately $24.73 million. The shares have shown a negative half year performance of -30.92% and its price on 12/26/23 gained nearly 46.70%. Currently, there are 48.30M common shares owned by the public and among those 26.90M shares have been available to trade.
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Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 1,623,655 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 19,453 shares.
The top 3 mutual fund holders in Sight Sciences Inc are Vanguard Total Stock Market ETF, JPMorgan Small Cap Value Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 0.86 million shares of the company’s stock, all valued at over $2.95 million. JPMorgan Small Cap Value Fund bought 11478.0 shares to see its total holdings expand to 0.55 million shares valued at over $1.86 million and representing 1.12% of the shares outstanding. iShares Russell 2000 ETF bought 246.0 shares to bring its total holdings to over 0.5 million shares at a value of $1.72 million. iShares Russell 2000 ETF now owns shares totaling to 1.03% of the shares outstanding.
Shares of Sight Sciences Inc (NASDAQ: SGHT) opened at $3.80, up $0.16 from a prior closing price of $3.64. However, the script later moved the day high at 5.69, up 46.70%. The company’s stock has a 5-day price change of 62.31% and 76.82% over the past three months. SGHT shares are trading -56.27% year to date (YTD), with the 12-month market performance down to -57.11% lower. It has a 12-month low price of $1.04 and touched a high of $15.30 over the same period. SGHT has an average intraday trading volume of 455.03K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 68.75%, 94.11%, and -17.24% respectively.
Institutional ownership of Sight Sciences Inc (NASDAQ: SGHT) shares accounts for 36.95% of the company’s 48.30M shares outstanding. Mutual fund holders own 25.46%, while other institutional holders and individual stakeholders account for 33.21% and 11.51% respectively.
It has a market capitalization of $260.33M and a beta (3y monthly) value of 2.65. The earnings-per-share (ttm) stands at -$1.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 19.23% over the week and 12.32% over the month.
Analysts forecast that Sight Sciences Inc (SGHT) will achieve an EPS of -$0.33 for the current quarter, -$0.32 for the next quarter and -$1.15 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.44 while analysts give the company a high EPS estimate of -$0.2. Comparatively, EPS for the current quarter was -$0.35 a year ago. Earnings per share for the fiscal year are expected to increase by 30.55%, and 8.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Sight Sciences Inc (SGHT) as a “Moderate Buy” at a consensus score of 2.67. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 5 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
