RxSight (NASDAQ:RXST) Receives Neutral Rating from BTIG Research

RxSight (NASDAQ:RXST - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at BTIG Research in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.

Other analysts also recently issued research reports about the company. Wells Fargo & Company upgraded RxSight from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $17.00 to $25.00 in a research report on Monday, May 19th. UBS Group downgraded RxSight from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Stifel Nicolaus reduced their price objective on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. Piper Sandler initiated coverage on RxSight in a research report on Tuesday, April 15th. They issued a "neutral" rating and a $18.00 price objective for the company. Finally, Bank of America reiterated an "underperform" rating and issued a $22.00 price objective (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, RxSight currently has a consensus rating of "Hold" and an average price target of $23.90.

RxSight Trading Up 5.0%

NASDAQ:RXST traded up $0.40 during mid-day trading on Wednesday, hitting $8.35. 2,646,091 shares of the company's stock traded hands, compared to its average volume of 978,627. The firm has a 50 day moving average of $14.26 and a two-hundred day moving average of $22.38. RxSight has a 12 month low of $6.32 and a 12 month high of $58.23. The firm has a market capitalization of $339.34 million, a price-to-earnings ratio of -12.46 and a beta of 1.21.

RxSight (NASDAQ:RXST - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). RxSight had a negative return on equity of 9.54% and a negative net margin of 17.90%. The firm had revenue of $37.90 million during the quarter, compared to the consensus estimate of $38.74 million. During the same quarter in the prior year, the company earned ($0.25) EPS. The firm's revenue for the quarter was up 28.5% compared to the same quarter last year. As a group, equities research analysts expect that RxSight will post -0.7 earnings per share for the current year.

Institutional Investors Weigh In On RxSight

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its holdings in RxSight by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company's stock valued at $7,838,000 after purchasing an additional 113,767 shares in the last quarter. Voya Investment Management LLC increased its holdings in RxSight by 73.9% during the 1st quarter. Voya Investment Management LLC now owns 26,969 shares of the company's stock valued at $681,000 after purchasing an additional 11,464 shares in the last quarter. Militia Capital Partners LP acquired a new stake in RxSight during the 1st quarter valued at $758,000. Rhumbline Advisers increased its holdings in RxSight by 6.4% during the 1st quarter. Rhumbline Advisers now owns 51,576 shares of the company's stock valued at $1,302,000 after purchasing an additional 3,103 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of RxSight by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company's stock valued at $2,358,000 after buying an additional 8,424 shares during the period. 78.78% of the stock is owned by institutional investors and hedge funds.

About RxSight

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.