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

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

Several other equities analysts have also commented on RXST. Oppenheimer lowered shares of RxSight from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 9th. Wells Fargo & Company lowered RxSight from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $25.00 to $9.00 in a research note on Wednesday, July 9th. Jefferies Financial Group restated a "hold" rating and set a $9.00 target price (down from $24.00) on shares of RxSight in a research note on Thursday, July 10th. Piper Sandler reduced their target price on shares of RxSight from $18.00 to $10.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Finally, Stifel Nicolaus cut their target price on shares of RxSight from $17.00 to $9.00 and set a "hold" rating for the company in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, RxSight presently has a consensus rating of "Hold" and an average price target of $22.55.

RxSight Trading Down 5.3%

Shares of RXST stock traded down $0.41 during trading hours on Friday, hitting $7.33. 1,218,138 shares of the company were exchanged, compared to its average volume of 808,269. RxSight has a 52-week low of $6.32 and a 52-week high of $58.23. The stock has a market capitalization of $297.83 million, a price-to-earnings ratio of -11.00 and a beta of 1.21. The firm has a fifty day simple moving average of $13.83 and a 200 day simple moving average of $21.66.

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

Institutional Investors Weigh In On RxSight

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming acquired a new position in shares of RxSight in the 4th quarter valued at $37,000. Coppell Advisory Solutions LLC increased its position in RxSight by 108.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,289 shares of the company's stock worth $44,000 after purchasing an additional 672 shares during the period. Russell Investments Group Ltd. lifted its stake in RxSight by 161.2% in the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company's stock valued at $103,000 after buying an additional 2,525 shares in the last quarter. AlphaQuest LLC grew its stake in RxSight by 65.7% during the fourth quarter. AlphaQuest LLC now owns 5,086 shares of the company's stock worth $175,000 after buying an additional 2,017 shares during the period. Finally, Two Sigma Securities LLC bought a new position in RxSight during the fourth quarter worth $200,000. Hedge funds and other 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.