Walleye Capital LLC Has $5 Million Stock Position in RxSight, Inc. $RXST

Key Points

• Walleye Capital LLC increased its holdings in RxSight, Inc. by 531.3% during the first quarter, owning 197,855 shares after purchasing an additional 166,513 shares.
• RxSight reported a quarterly revenue of $33.64 million but missed analysts' expectations, leading to a negative net margin of 21.93%.
• Analyst ratings have declined, with Oppenheimer downgrading RxSight from "outperform" to "market perform" and several firms reducing their price targets significantly.

Walleye Capital LLC grew its stake in shares of RxSight, Inc. (NASDAQ:RXST - Free Report) by 531.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 197,855 shares of the company's stock after purchasing an additional 166,513 shares during the quarter. Walleye Capital LLC owned about 0.49% of RxSight worth $4,996,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State of Wyoming acquired a new position in RxSight during the fourth quarter worth approximately $37,000. Russell Investments Group Ltd. grew its position in shares of RxSight by 161.2% in the first 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 shares of RxSight in the fourth quarter valued at approximately $200,000. Sherbrooke Park Advisers LLC acquired a new position in shares of RxSight in the fourth quarter valued at approximately $204,000. Finally, Summit Global Investments grew its holdings in RxSight by 24.7% in the 1st quarter. Summit Global Investments now owns 8,393 shares of the company's stock valued at $212,000 after buying an additional 1,664 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BTIG Research reaffirmed a "neutral" rating on shares of RxSight in a report on Wednesday, July 9th. Stifel Nicolaus decreased their price target on shares of RxSight from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. Oppenheimer lowered shares of RxSight from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 9th. Morgan Stanley lowered shares of RxSight from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $20.00 to $9.00 in a research report on Tuesday, July 15th. Finally, UBS Group reduced their price target on RxSight from $16.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, RxSight presently has a consensus rating of "Reduce" and an average price target of $10.00.

RxSight Stock Performance

Shares of NASDAQ RXST traded down $0.11 during trading hours on Friday, hitting $9.04. 1,151,763 shares of the stock were exchanged, compared to its average volume of 1,242,750. The company has a market cap of $369.92 million, a PE ratio of -11.30 and a beta of 1.16. The company's fifty day simple moving average is $9.22 and its two-hundred day simple moving average is $15.85. RxSight, Inc. has a 1-year low of $6.32 and a 1-year high of $57.53.

RxSight (NASDAQ:RXST - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). The business had revenue of $33.64 million during 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 company's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.16) EPS. As a group, sell-side analysts expect that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

RxSight 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.