Brokerages Set RxSight, Inc. (NASDAQ:RXST) PT at $10.00

Key Points

• RxSight, Inc. has received an average analyst rating of "Reduce", with two sell ratings, eight holds, and one buy rating among eleven analysts.
• The company's recent earnings report showed a loss of ($0.08) EPS, falling short of the consensus estimate, along with a revenue decline of 3.7% year-over-year.
• RxSight's stock has experienced significant downward price target revisions, with Morgan Stanley reducing its target from $20.00 to $9.00.

RxSight, Inc. (NASDAQ:RXST - Get Free Report) has been assigned an average rating of "Reduce" from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.00.

A number of equities analysts have commented on RXST shares. Needham & Company LLC decreased their price objective on shares of RxSight from $22.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 8th. BTIG Research reaffirmed a "neutral" rating on shares of RxSight in a report on Wednesday, July 9th. Bank of America lowered their price objective on shares of RxSight from $18.00 to $9.00 and set an "underperform" rating for the company in a research report on Wednesday, July 9th. Stifel Nicolaus decreased their target price on RxSight from $9.00 to $8.00 and set a "hold" rating for the company in a research note on Friday, August 8th. Finally, Piper Sandler lowered their target price on RxSight from $18.00 to $10.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th.

Institutional Investors Weigh In On RxSight

A number of hedge funds have recently added to or reduced their stakes in RXST. Raymond James Financial Inc. acquired a new position in shares of RxSight during the second quarter valued at $28,000. Bessemer Group Inc. bought a new stake in RxSight in the 2nd quarter valued at about $33,000. State of Wyoming bought a new position in RxSight in the 4th quarter worth about $37,000. CWM LLC grew its position in RxSight by 614.1% in the 2nd quarter. CWM LLC now owns 4,520 shares of the company's stock worth $59,000 after purchasing an additional 3,887 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of RxSight by 156.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,574 shares of the company's stock valued at $72,000 after purchasing an additional 3,398 shares during the period. 78.78% of the stock is currently owned by institutional investors.

RxSight Trading Down 1.2%

RxSight stock traded down $0.11 during midday trading on Friday, hitting $9.04. The stock had a trading volume of 1,151,763 shares, compared to its average volume of 1,242,750. The business has a fifty day moving average price of $9.22 and a 200 day moving average price of $15.85. RxSight has a 12 month low of $6.32 and a 12 month high of $57.53. The stock has a market cap of $369.92 million, a P/E ratio of -11.30 and a beta of 1.16.

RxSight (NASDAQ:RXST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). RxSight had a negative return on equity of 11.56% and a negative net margin of 21.93%.The firm had revenue of $33.64 million for the quarter, compared to the consensus estimate of $39.78 million. During the same period in the prior year, the business earned ($0.16) EPS. The company's quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts anticipate that RxSight will post -0.7 EPS for the current fiscal year.

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.