RxSight (NASDAQ:RXST) Reaches New 52-Week Low - Here's What Happened

RxSight, Inc. (NASDAQ:RXST - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $14.24 and last traded at $15.51, with a volume of 1984210 shares traded. The stock had previously closed at $14.99.

Analyst Ratings Changes

A number of equities analysts have commented on the company. UBS Group downgraded RxSight from a "buy" rating to a "neutral" rating and decreased their target price for the company from $45.00 to $16.00 in a research note on Wednesday, April 9th. Wells Fargo & Company reduced their price objective on RxSight from $35.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, April 3rd. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $17.00 target price (down from $40.00) on shares of RxSight in a research report on Friday, April 4th. Needham & Company LLC reissued a "buy" rating and set a $43.00 price target on shares of RxSight in a report on Thursday, April 3rd. Finally, Stifel Nicolaus dropped their price objective on shares of RxSight from $33.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $37.60.

RxSight Trading Up 0.7 %

The stock has a market cap of $587.85 million, a P/E ratio of -17.52 and a beta of 1.26. The stock's 50-day moving average is $25.23 and its 200-day moving average is $35.89.

RxSight (NASDAQ:RXST - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.25). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The company had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. On average, equities analysts forecast that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Activity

In related news, Director Jesse Anderson Corley acquired 1,443 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was bought at an average price of $31.18 per share, for a total transaction of $44,992.74. Following the transaction, the director now owns 1,443 shares of the company's stock, valued at approximately $44,992.74. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shweta Maniar sold 3,519 shares of RxSight stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at $227,913.21. The trade was a 32.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.36% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc. lifted its position in shares of RxSight by 3.8% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company's stock valued at $302,000 after acquiring an additional 320 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of RxSight by 1.7% in the fourth quarter. Wells Fargo & Company MN now owns 26,574 shares of the company's stock worth $914,000 after buying an additional 445 shares during the period. Legal & General Group Plc grew its holdings in shares of RxSight by 1.2% during the fourth quarter. Legal & General Group Plc now owns 42,445 shares of the company's stock valued at $1,459,000 after buying an additional 512 shares in the last quarter. F M Investments LLC raised its position in RxSight by 12.6% during the fourth quarter. F M Investments LLC now owns 5,901 shares of the company's stock valued at $203,000 after buying an additional 659 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its stake in RxSight by 108.9% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock worth $44,000 after acquiring an additional 672 shares in the last quarter. 78.78% of the stock is owned by hedge funds and other institutional investors.

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.