RxSight (NASDAQ:RXST) Receives "Hold" Rating from Jefferies Financial Group

RxSight (NASDAQ:RXST - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Jefferies Financial Group in a research note issued on Thursday, Marketbeat reports. They currently have a $9.00 target price on the stock, down from their previous target price of $24.00. Jefferies Financial Group's price objective would suggest a potential upside of 12.50% from the company's current price.

Other research analysts have also recently issued reports about the stock. Bank of America reduced their target price on shares of RxSight from $18.00 to $9.00 and set an "underperform" rating on the stock in a research report on Wednesday. UBS Group cut shares of RxSight from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $45.00 to $16.00 in a research report on Wednesday, April 9th. Stifel Nicolaus reduced their target price on shares of RxSight from $17.00 to $9.00 and set a "hold" rating on the stock in a research report on Wednesday. Wells Fargo & Company cut shares of RxSight from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $25.00 to $9.00 in a research report on Wednesday. Finally, Needham & Company LLC reissued a "buy" rating and set a $22.00 target price on shares of RxSight in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $23.90.

RxSight Price Performance

RXST stock traded down $0.46 during midday trading on Thursday, reaching $8.00. 2,222,737 shares of the company's stock traded hands, compared to its average volume of 803,891. The company has a market capitalization of $325.12 million, a P/E ratio of -11.94 and a beta of 1.21. RxSight has a fifty-two week low of $6.32 and a fifty-two week high of $58.23. The business has a 50-day moving average price of $13.97 and a two-hundred day moving average price of $22.02.

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

Institutional Trading of RxSight

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in shares of RxSight by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company's stock worth $7,838,000 after buying an additional 113,767 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of RxSight by 73.9% in the first quarter. Voya Investment Management LLC now owns 26,969 shares of the company's stock worth $681,000 after buying an additional 11,464 shares during the last quarter. Militia Capital Partners LP bought a new stake in shares of RxSight in the first quarter worth $758,000. Rhumbline Advisers increased its stake in RxSight by 6.4% during the first quarter. Rhumbline Advisers now owns 51,576 shares of the company's stock valued at $1,302,000 after purchasing an additional 3,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in RxSight by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,382 shares of the company's stock valued at $2,358,000 after purchasing an additional 8,424 shares during the last quarter. Institutional investors 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.