RxSight (NASDAQ:RXST) Cut to "Sell" at Wall Street Zen

Wall Street Zen cut shares of RxSight (NASDAQ:RXST - Free Report) from a hold rating to a sell rating in a research note published on Saturday.

Several other research firms have also issued reports on RXST. UBS Group lowered shares of RxSight from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $45.00 to $16.00 in a report on Wednesday, April 9th. Jefferies Financial Group restated a "hold" rating and set a $9.00 price target (down previously from $24.00) on shares of RxSight in a report on Thursday. Stifel Nicolaus lowered their price target on shares of RxSight from $17.00 to $9.00 and set a "hold" rating for the company in a report on Wednesday. BTIG Research restated a "neutral" rating on shares of RxSight in a report on Wednesday. Finally, Oppenheimer lowered shares of RxSight from an "outperform" rating to a "market perform" rating in a report on Wednesday. Three equities 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. According to data from MarketBeat.com, RxSight currently has a consensus rating of "Hold" and a consensus target price of $23.90.

RxSight Price Performance

NASDAQ RXST traded down $0.46 during trading hours on Friday, reaching $8.00. The company's stock had a trading volume of 2,222,737 shares, compared to its average volume of 803,891. The firm has a fifty day simple moving average of $13.97 and a 200-day simple moving average of $22.02. The stock has a market cap of $325.12 million, a P/E ratio of -11.94 and a beta of 1.21. RxSight has a 52 week low of $6.32 and a 52 week high of $58.23.

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

Institutional Trading of RxSight

Several hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in RxSight by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company's stock valued at $7,838,000 after purchasing an additional 113,767 shares during the period. Voya Investment Management LLC grew its position in RxSight by 73.9% in the 1st quarter. Voya Investment Management LLC now owns 26,969 shares of the company's stock valued at $681,000 after purchasing an additional 11,464 shares during the period. Militia Capital Partners LP acquired a new stake in RxSight in the 1st quarter valued at $758,000. Rhumbline Advisers grew its position in RxSight by 6.4% in the 1st 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in RxSight by 9.9% during 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 acquiring an additional 8,424 shares during the last quarter. Institutional investors and hedge funds 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.