Militia Capital Partners LP Acquires New Holdings in RxSight, Inc. $RXST

Key Points

• Militia Capital Partners LP has acquired 30,000 shares of RxSight, Inc. valued at approximately $758,000, representing about 0.07% of the company as of its latest SEC filing.
• Recent quarterly earnings revealed that RxSight reported a loss of ($0.08) earnings per share, missing expectations, and a 3.7% decrease in revenue compared to the previous year.
• Several brokerages have revised their ratings and price targets for RxSight, with Bank of America lowering its target from $18.00 to $9.00, indicating a general bearish outlook among analysts.

Militia Capital Partners LP acquired a new stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 30,000 shares of the company's stock, valued at approximately $758,000. Militia Capital Partners LP owned approximately 0.07% of RxSight as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State of Wyoming acquired a new position in RxSight during the fourth quarter worth about $37,000. Russell Investments Group Ltd. grew its holdings in RxSight by 161.2% during the first 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. Sherbrooke Park Advisers LLC acquired a new position in RxSight during the fourth quarter worth about $204,000. Summit Global Investments grew its holdings in RxSight by 24.7% during the first quarter. Summit Global Investments now owns 8,393 shares of the company's stock worth $212,000 after acquiring an additional 1,664 shares during the period. Finally, AlphaQuest LLC increased its stake in RxSight by 66.0% in the 1st quarter. AlphaQuest LLC now owns 8,443 shares of the company's stock worth $213,000 after purchasing an additional 3,357 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors.

RxSight Price Performance

Shares of RxSight stock opened at $9.42 on Friday. The firm has a market cap of $385.47 million, a price-to-earnings ratio of -11.78 and a beta of 1.18. RxSight, Inc. has a 52-week low of $6.32 and a 52-week high of $57.53. The stock has a 50-day simple moving average of $8.49 and a 200-day simple moving average of $14.64.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The firm had revenue of $33.64 million for 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 11.56%. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. As a group, equities research analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RXST. Bank of America dropped their price target on RxSight from $18.00 to $9.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 9th. Wall Street Zen cut RxSight from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. UBS Group dropped their price target on RxSight from $16.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Zacks Research upgraded RxSight from a "strong sell" rating to a "hold" rating in a research report on Monday. Finally, Needham & Company LLC dropped their target price on RxSight from $22.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, RxSight currently has a consensus rating of "Reduce" and a consensus target price of $10.00.

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.

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