RxSight, Inc. (NASDAQ:RXST) Receives Consensus Rating of "Hold" from Brokerages

RxSight, Inc. (NASDAQ:RXST - Get Free Report) has received an average recommendation of "Hold" from the ten ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $37.90.

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised RxSight from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $17.00 to $25.00 in a research report on Monday, May 19th. Bank of America reaffirmed an "underperform" rating and issued a $22.00 price objective (down from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Stifel Nicolaus lowered their price objective on RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a research report on Wednesday, March 19th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $17.00 price target (down from $40.00) on shares of RxSight in a report on Friday, April 4th. Finally, Piper Sandler began coverage on RxSight in a report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price target on the stock.

Hedge Funds Weigh In On RxSight

A number of institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC raised its holdings in RxSight by 73.9% in the 1st quarter. Voya Investment Management LLC now owns 26,969 shares of the company's stock worth $681,000 after purchasing an additional 11,464 shares during the period. Militia Capital Partners LP bought a new position in RxSight in the 1st quarter worth $758,000. Rhumbline Advisers raised its holdings in RxSight by 6.4% in the 1st quarter. Rhumbline Advisers now owns 51,576 shares of the company's stock worth $1,302,000 after purchasing an additional 3,103 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in RxSight by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company's stock worth $2,358,000 after purchasing an additional 8,424 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in RxSight by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company's stock worth $7,838,000 after purchasing an additional 113,767 shares during the period. 78.78% of the stock is owned by institutional investors.

RxSight Trading Up 2.7%

RXST stock traded up $0.37 during midday trading on Friday, hitting $13.87. The company's stock had a trading volume of 594,609 shares, compared to its average volume of 706,783. The company has a market cap of $563.68 million, a PE ratio of -20.70 and a beta of 1.29. RxSight has a 12 month low of $12.53 and a 12 month high of $60.81. The firm's 50-day moving average is $14.77 and its 200-day moving average is $25.14.

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

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.