RxSight, Inc. (NASDAQ:RXST) Given Average Rating of “Reduce” by Analysts

Shares of RxSight, Inc. (NASDAQ:RXST) have earned an average rating of “Reduce” from the eleven research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $10.00.

Several analysts recently commented on the company. Stifel Nicolaus lowered their target price on RxSight from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday. Needham & Company LLC decreased their price target on RxSight from $22.00 to $11.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley lowered RxSight from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $20.00 to $9.00 in a report on Tuesday, July 15th. Piper Sandler reduced their price objective on shares of RxSight from $18.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Finally, Wall Street Zen lowered shares of RxSight from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th.

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently bought and sold shares of RXST. KLP Kapitalforvaltning AS acquired a new position in shares of RxSight in the 4th quarter worth approximately $213,000. LPL Financial LLC boosted its holdings in RxSight by 3.6% during the fourth quarter. LPL Financial LLC now owns 25,007 shares of the company’s stock worth $860,000 after buying an additional 861 shares in the last quarter. Vanguard Group Inc. grew its position in RxSight by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock worth $81,946,000 after buying an additional 96,464 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in RxSight in the fourth quarter worth approximately $333,000. Finally, Geode Capital Management LLC increased its holdings in shares of RxSight by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 830,758 shares of the company’s stock valued at $28,568,000 after buying an additional 13,641 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors.

RxSight Stock Down 7.7%

Shares of NASDAQ:RXST opened at $7.19 on Monday. The company’s 50-day moving average price is $11.09 and its 200 day moving average price is $18.49. The company has a market cap of $292.20 million, a PE ratio of -8.99 and a beta of 1.16. RxSight has a fifty-two week low of $6.32 and a fifty-two week high of $58.23.

RxSight (NASDAQ:RXST) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The firm had revenue of $33.64 million during the quarter, compared to analyst estimates of $39.78 million. RxSight had a negative net margin of 21.93% and a negative return on equity of 11.55%. RxSight’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.16) EPS. As a group, equities analysts anticipate that RxSight will post -0.7 EPS for the current year.

RxSight Company Profile

RxSight, Inc, a commercial-stage medical device company, engages in the research and development, manufacture, and sale of light adjustable intraocular lenses (LAL) used in cataract surgery in the United States and internationally. It offers RxSight system that enables doctors to customize and enhance the visual acuity for patients after cataract surgery.