Quantbot Technologies LP Purchases 53,749 Shares of RxSight, Inc. $RXST

Key Points

• Quantbot Technologies LP increased its holdings in RxSight, Inc. by 160.7% in Q1, owning 87,193 shares valued at $2,202,000 by the end of the reporting period.
• RxSight reported a loss of $0.08 per share for the latest quarter, missing analysts’ expectations and experiencing a 3.7% decline in revenue year-over-year.
• Several analysts have downgraded their ratings and price targets for RxSight, with a consensus target now at $10.00, reflecting concerns over the company's underperformance.

Quantbot Technologies LP increased its position in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 160.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,193 shares of the company's stock after buying an additional 53,749 shares during the period. Quantbot Technologies LP owned 0.21% of RxSight worth $2,202,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State of Wyoming acquired a new position in RxSight during the 4th quarter valued at $37,000. Coppell Advisory Solutions LLC raised its stake in RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after purchasing an additional 672 shares during the last quarter. Russell Investments Group Ltd. raised its stake in RxSight by 161.2% during the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company's stock valued at $103,000 after purchasing an additional 2,525 shares during the last quarter. Two Sigma Securities LLC acquired a new position in RxSight during the 4th quarter valued at $200,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in RxSight during the 4th quarter valued at $204,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Stock Performance

Shares of RXST stock traded up $0.55 during mid-day trading on Friday, reaching $9.28. The company's stock had a trading volume of 1,354,160 shares, compared to its average volume of 1,157,856. RxSight, Inc. has a 1-year low of $6.32 and a 1-year high of $58.23. The company has a market cap of $379.74 million, a P/E ratio of -11.60 and a beta of 1.16. The firm's 50-day moving average is $9.72 and its two-hundred day moving average is $16.56.

RxSight (NASDAQ:RXST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $39.78 million. During the same quarter in the prior year, the company posted ($0.16) EPS. The company's quarterly revenue was down 3.7% compared to the same quarter last year. Sell-side analysts anticipate that RxSight, Inc. will post -0.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RXST shares. Jefferies Financial Group reiterated a "hold" rating and set a $9.00 target price (down from $24.00) on shares of RxSight in a research note on Thursday, July 10th. BTIG Research reiterated a "neutral" rating on shares of RxSight in a research note on Wednesday, July 9th. Oppenheimer cut shares of RxSight from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company cut shares of RxSight from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $25.00 to $9.00 in a research note on Wednesday, July 9th. Finally, Stifel Nicolaus dropped their price objective on shares of RxSight from $9.00 to $8.00 and set a "hold" rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, RxSight currently has an average 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.