Grandeur Peak Global Advisors LLC Has $3.48 Million Stock Holdings in RxSight, Inc. $RXST

Key Points

• Grandeur Peak Global Advisors increased its RxSight stake by 55.2% in the second quarter, bringing its holdings to 722,440 shares worth approximately $3.48 million. Institutional investors collectively own 78.78% of the company.
• RxSight reported quarterly revenue of $33.74 million and an adjusted loss of $0.29 per share, beating analyst estimates of $32.55 million in revenue and a $0.33-per-share loss.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $8.37, while shares recently opened at $7.05 after trading between $4.48 and $13.22 over the past year.

Grandeur Peak Global Advisors LLC raised its stake in RxSight, Inc. (NASDAQ:RXST - Free Report) by 55.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 722,440 shares of the company's stock after purchasing an additional 256,848 shares during the period. RxSight accounts for 0.8% of Grandeur Peak Global Advisors LLC's holdings, making the stock its 25th biggest holding. Grandeur Peak Global Advisors LLC owned 1.74% of RxSight worth $3,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in shares of RxSight in the 2nd quarter valued at about $28,000. Caitong International Asset Management Co. Ltd raised its stake in RxSight by 440.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company's stock worth $39,000 after buying an additional 3,063 shares during the period. CWM LLC raised its stake in RxSight by 211.1% during the 4th quarter. CWM LLC now owns 3,826 shares of the company's stock worth $40,000 after buying an additional 2,596 shares during the period. Larson Financial Group LLC boosted its holdings in RxSight by 110.5% in the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company's stock worth $36,000 after acquiring an additional 2,089 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in RxSight in the first quarter worth approximately $30,000. Institutional investors and hedge funds own 78.78% of the company's stock.

RxSight Price Performance

Shares of RxSight stock opened at $7.05 on Monday. RxSight, Inc. has a 52 week low of $4.48 and a 52 week high of $13.22. The business has a 50 day moving average price of $5.83 and a 200-day moving average price of $6.37. The company has a market cap of $293.23 million, a PE ratio of -6.24 and a beta of 1.13.

RxSight (NASDAQ:RXST - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.04. The company had revenue of $33.74 million for the quarter, compared to analysts' expectations of $32.55 million. RxSight had a negative return on equity of 17.35% and a negative net margin of 36.80%. As a group, research analysts anticipate that RxSight, Inc. will post -1.01 EPS for the current year.

Analyst Ratings Changes

RXST has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on RxSight from $11.00 to $9.00 and set an "equal weight" rating for the company in a report on Thursday, May 7th. Jefferies Financial Group set a $6.50 price target on shares of RxSight in a research report on Tuesday, July 7th. Weiss Ratings lowered shares of RxSight from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 11th. Stifel Nicolaus lowered their price objective on shares of RxSight from $8.00 to $7.00 and set a "hold" rating on the stock in a report on Monday, August 10th. Finally, Bank of America dropped their price objective on shares of RxSight from $8.00 to $6.50 and set an "underperform" rating on the stock in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $8.37.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company's flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.

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