RxSight, Inc. (NASDAQ:RXST) Given Average Recommendation of "Reduce" by Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) have earned a consensus recommendation of "Reduce" from the ten research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $23.90.

A number of equities analysts have issued reports on RXST shares. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $17.00 target price (down previously from $40.00) on shares of RxSight in a report on Friday, April 4th. BTIG Research reaffirmed a "neutral" rating on shares of RxSight in a research note on Wednesday. Oppenheimer downgraded shares of RxSight from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Wells Fargo & Company cut shares of RxSight from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $25.00 to $9.00 in a research report on Wednesday. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $9.00 price target (down previously from $24.00) on shares of RxSight in a research note on Thursday.

RxSight Stock Down 5.4%

Shares of NASDAQ:RXST traded down $0.46 during trading on Thursday, reaching $8.00. 2,222,737 shares of the company traded hands, compared to its average volume of 803,891. RxSight has a 52 week low of $6.32 and a 52 week high of $58.23. The firm has a market capitalization of $325.12 million, a PE ratio of -11.94 and a beta of 1.21. The company's 50 day moving average is $13.97 and its two-hundred day moving average is $22.02.

RxSight (NASDAQ:RXST - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $37.90 million during the quarter, compared to the consensus estimate of $38.74 million. RxSight had a negative net margin of 17.90% and a negative return on equity of 9.54%. The firm's revenue was up 28.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.25) EPS. As a group, research analysts anticipate that RxSight will post -0.7 EPS for the current year.

Hedge Funds Weigh In On RxSight

Several hedge funds and other institutional investors have recently bought and sold shares of RXST. GAMMA Investing LLC raised its position in shares of RxSight by 12,990.8% in the 1st quarter. GAMMA Investing LLC now owns 8,509 shares of the company's stock worth $215,000 after acquiring an additional 8,444 shares in the last quarter. SG Americas Securities LLC bought a new stake in RxSight in the first quarter worth approximately $916,000. Vanguard Group Inc. increased its holdings in RxSight by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company's stock worth $81,946,000 after purchasing an additional 96,464 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in RxSight by 10.0% in the fourth quarter. Bank of New York Mellon Corp now owns 102,882 shares of the company's stock valued at $3,537,000 after buying an additional 9,385 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of RxSight by 23.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,958 shares of the company's stock worth $2,921,000 after buying an additional 16,140 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company's stock.

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.