RxSight, Inc. (NASDAQ:RXST) Given Average Rating of "Hold" by Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) have been given a consensus recommendation of "Hold" by the ten brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $37.90.

Several brokerages recently issued reports on RXST. Piper Sandler assumed coverage on shares of RxSight in a report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price target for the company. Wells Fargo & Company upgraded RxSight from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $17.00 to $25.00 in a report on Monday, May 19th. Needham & Company LLC reissued a "buy" rating and issued a $43.00 target price on shares of RxSight in a research note on Thursday, April 3rd. 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 research report on Friday, April 4th. Finally, Stifel Nicolaus reduced their target price on RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th.

RxSight Stock Down 4.2%

NASDAQ:RXST traded down $0.59 during trading hours on Friday, reaching $13.50. 731,327 shares of the company's stock were exchanged, compared to its average volume of 705,627. The company has a market capitalization of $548.64 million, a P/E ratio of -20.15 and a beta of 1.29. RxSight has a 12 month low of $12.53 and a 12 month high of $60.81. The business's 50-day simple moving average is $14.84 and its two-hundred day simple moving average is $25.30.

RxSight (NASDAQ:RXST - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). RxSight had a negative return on equity of 9.54% and a negative net margin of 17.90%. The company had revenue of $37.90 million for the quarter, compared to analyst estimates of $38.74 million. During the same period last year, the company earned ($0.25) earnings per share. The business's revenue was up 28.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that RxSight will post -0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RxSight

A number of hedge funds have recently modified their holdings of RXST. Private Trust Co. NA bought a new stake in RxSight during the 4th quarter valued at approximately $34,000. State of Wyoming purchased a new position in RxSight during the 4th quarter worth $37,000. Coppell Advisory Solutions LLC increased its position in shares of RxSight by 108.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock valued at $44,000 after acquiring an additional 672 shares during the period. Arcadia Investment Management Corp MI purchased a new position in RxSight during the 4th quarter worth approximately $46,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of RxSight in the fourth quarter worth about $69,000. Institutional investors own 78.78% of the company's stock.

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.