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Strength Seen in Sight Sciences, Inc. (SGHT): Can Its 5.6% Jump Turn into More Strength?
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Sight Sciences, Inc. (SGHT - Free Report) shares soared 5.6% in the last trading session to close at $8.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.3% loss over the past four weeks.
Sight Sciences scored a strong price increase, on investors’ optimism driven by the company’s recent appointment of a distinguished professional as its Chief Financial Officer and Treasurer. The company also had a victory over the four patent invalidity challenges filed by Alcon and Ivantis in the United States Patent and Trademark Office.
This company is expected to post quarterly loss of $0.41 per share in its upcoming report, which represents a year-over-year change of +16.3%. Revenues are expected to be $18.99 million, up 27.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sight Sciences, Inc., the consensus EPS estimate for the quarter has been revised 10.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SGHT going forward to see if this recent jump can turn into more strength down the road.
Sight Sciences, Inc. is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Artivion (AORT - Free Report) , finished the last trading session 1.1% higher at $13.11. AORT has returned 10.5% over the past month.
For Artivion, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. This represents a change of -133.3% from what the company reported a year ago. Artivion currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Sight Sciences, Inc. (SGHT): Can Its 5.6% Jump Turn into More Strength?
Sight Sciences, Inc. (SGHT - Free Report) shares soared 5.6% in the last trading session to close at $8.67. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.3% loss over the past four weeks.
Sight Sciences scored a strong price increase, on investors’ optimism driven by the company’s recent appointment of a distinguished professional as its Chief Financial Officer and Treasurer. The company also had a victory over the four patent invalidity challenges filed by Alcon and Ivantis in the United States Patent and Trademark Office.
This company is expected to post quarterly loss of $0.41 per share in its upcoming report, which represents a year-over-year change of +16.3%. Revenues are expected to be $18.99 million, up 27.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sight Sciences, Inc., the consensus EPS estimate for the quarter has been revised 10.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SGHT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sight Sciences, Inc. is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Artivion (AORT - Free Report) , finished the last trading session 1.1% higher at $13.11. AORT has returned 10.5% over the past month.
For Artivion, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. This represents a change of -133.3% from what the company reported a year ago. Artivion currently has a Zacks Rank of #3 (Hold).