RxSight, Inc. $RXST Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in RxSight, Inc. by 66.5% in the 1st quarter, owning 139,063 shares valued at $3.51 million as of its latest SEC filing.
• Several institutional investors, including the Royal Bank of Canada and Bank of America, significantly boosted their holdings in RxSight during the recent quarters, indicating strong institutional interest.
• Analysts have downgraded their ratings and price targets for RxSight, with a consensus price target of $10.00, reflecting cautious sentiment after the company reported a quarterly earnings miss.

Algert Global LLC grew its stake in RxSight, Inc. (NASDAQ:RXST - Free Report) by 66.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,063 shares of the company's stock after acquiring an additional 55,533 shares during the quarter. Algert Global LLC owned about 0.34% of RxSight worth $3,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in shares of RxSight during the fourth quarter worth about $37,000. Coppell Advisory Solutions LLC boosted its position in RxSight by 108.9% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock worth $44,000 after acquiring an additional 672 shares during the last quarter. Russell Investments Group Ltd. grew its stake in RxSight by 161.2% in the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company's stock worth $103,000 after acquiring an additional 2,525 shares during the period. Two Sigma Securities LLC acquired a new position in RxSight in the 4th quarter valued at $200,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of RxSight during the 4th quarter worth $204,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

RxSight Stock Up 6.3%

Shares of RXST traded up $0.55 during mid-day trading on Friday, reaching $9.28. 1,354,160 shares of the stock traded hands, compared to its average volume of 1,128,971. RxSight, Inc. has a 12-month low of $6.32 and a 12-month high of $58.23. The stock has a fifty day simple moving average of $9.72 and a 200 day simple moving average of $16.68. The firm has a market cap of $379.74 million, a price-to-earnings ratio of -11.60 and a beta of 1.16.

RxSight (NASDAQ:RXST - Get Free Report) last released its 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). RxSight had a negative net margin of 21.93% and a negative return on equity of 11.56%. The business had revenue of $33.64 million for the quarter, compared to analysts' expectations of $39.78 million. During the same quarter last year, the company posted ($0.16) earnings per share. The business's quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts expect that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Oppenheimer downgraded RxSight from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 9th. UBS Group lowered their price target on RxSight from $16.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Jefferies Financial Group reaffirmed a "hold" rating and set a $9.00 price objective (down previously from $24.00) on shares of RxSight in a research note on Thursday, July 10th. Stifel Nicolaus lowered their target price on shares of RxSight from $9.00 to $8.00 and set a "hold" rating for the company in a report on Friday, August 8th. Finally, Bank of America dropped their price target on shares of RxSight from $18.00 to $9.00 and set an "underperform" rating for the company in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $10.00.

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.