RxSight, Inc. (NASDAQ:RXST) Stock Has Consensus Price Target of $8.17 According to Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have earned a consensus rating of “Reduce” from the twelve brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.17.

RXST has been the topic of a number of analyst reports. Stifel Nicolaus cut their target price on RxSight from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of RxSight in a research note on Tuesday, September 8th. UBS Group raised their price target on RxSight from $5.50 to $6.30 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Wall Street Zen cut RxSight from a “hold” rating to a “sell” rating in a report on Sunday, October 25th. Finally, Bank of America cut their price objective on RxSight from $6.50 to $5.50 and set an “underperform” rating on the stock in a research report on Tuesday, September 22nd.

RxSight Trading Down 4.4%

RXST stock opened at $4.59 on Wednesday. The stock has a market cap of $190.90 million, a PE ratio of -4.06 and a beta of 1.21. RxSight has a 12 month low of $4.40 and a 12 month high of $13.22. The company has a 50-day moving average price of $5.33 and a 200 day moving average price of $6.34.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). The firm had revenue of $24.59 million during the quarter, compared to analysts’ expectations of $27.19 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. Sell-side analysts forecast that RxSight will post -1.03 EPS for the current year.

Insider Buying and Selling at RxSight

In other news, CFO Mark Wilterding sold 7,765 shares of RxSight stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $6.96, for a total transaction of $54,044.40. Following the completion of the sale, the chief financial officer directly owned 25,049 shares in the company, valued at approximately $174,341.04. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider M Kurtz sold 5,100 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.96, for a total transaction of $35,496.00. Following the sale, the insider directly owned 71,775 shares of the company’s stock, valued at $499,554. This represents a 6.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 16,947 shares of company stock valued at $117,951. Corporate insiders own 10.05% of the company’s stock.

Institutional Investors Weigh In On RxSight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RXST. Vise Technologies Inc. purchased a new stake in shares of RxSight in the third quarter valued at approximately $66,000. Corient Private Wealth LP grew its stake in RxSight by 176.6% in the second quarter. Corient Private Wealth LP now owns 85,838 shares of the company’s stock worth $414,000 after purchasing an additional 54,806 shares in the last quarter. Grandeur Peak Global Advisors LLC grew its stake in RxSight by 55.2% in the second quarter. Grandeur Peak Global Advisors LLC now owns 722,440 shares of the company’s stock worth $3,482,000 after purchasing an additional 256,848 shares in the last quarter. Moore Capital Management LP grew its stake in RxSight by 116.2% in the second quarter. Moore Capital Management LP now owns 151,500 shares of the company’s stock worth $730,000 after purchasing an additional 81,438 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in RxSight by 16.6% during the 2nd quarter. Hsbc Holdings PLC now owns 92,312 shares of the company’s stock worth $445,000 after purchasing an additional 13,162 shares during the period. Institutional investors own 78.78% of the company’s stock.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on improving visual outcomes for patients undergoing cataract surgery. The company develops and commercializes ophthalmic products that allow surgeons to customize a patient’s vision after surgery.

Its primary product is the RxSight Light Adjustable Lens, an intraocular lens implanted during cataract surgery. After implantation, the lens can be adjusted using ultraviolet light treatments delivered by the company’s Light Delivery Device, enabling physicians to refine the lens power based on the patient’s postoperative visual needs.