RxSight (NASDAQ:RXST - Get Free Report) had its price target dropped by investment analysts at UBS Group from $16.00 to $8.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target suggests a potential upside of 9.53% from the stock's previous close.
Several other research firms have also recently issued reports on RXST. Wall Street Zen cut shares of RxSight from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Piper Sandler decreased their price target on shares of RxSight from $18.00 to $10.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Morgan Stanley cut shares of RxSight from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $20.00 to $9.00 in a research note on Tuesday, July 15th. Bank of America dropped their price objective on RxSight from $18.00 to $9.00 and set an "underperform" rating for the company in a report on Wednesday, July 9th. Finally, Oppenheimer lowered RxSight from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, RxSight currently has an average rating of "Hold" and a consensus price target of $10.00.
View Our Latest Analysis on RxSight
RxSight Stock Down 6.2%
Shares of RXST stock traded down $0.49 during mid-day trading on Friday, hitting $7.30. 1,187,439 shares of the company's stock were exchanged, compared to its average volume of 1,020,679. The stock has a market cap of $296.81 million, a price-to-earnings ratio of -10.93 and a beta of 1.16. RxSight has a fifty-two week low of $6.32 and a fifty-two week high of $58.23. The stock has a 50-day simple moving average of $11.25 and a two-hundred day simple moving average of $18.65.
RxSight (NASDAQ:RXST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.25). The business had revenue of $33.64 million for the quarter, compared to analysts' expectations of $39.78 million. RxSight had a negative return on equity of 9.54% and a negative net margin of 17.90%. The business's quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) earnings per share. As a group, analysts anticipate that RxSight will post -0.7 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming acquired a new stake in RxSight in the 4th quarter valued at about $37,000. Coppell Advisory Solutions LLC grew its stake 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 worth $44,000 after purchasing an additional 672 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of RxSight in the 2nd quarter worth approximately $33,000. Russell Investments Group Ltd. lifted its stake in RxSight by 161.2% during the first quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company's stock valued at $103,000 after purchasing an additional 2,525 shares during the last quarter. Finally, CWM LLC lifted its stake in RxSight by 614.1% during the second quarter. CWM LLC now owns 4,520 shares of the company's stock valued at $59,000 after purchasing an additional 3,887 shares during the last quarter. 78.78% of the stock is owned by institutional investors and hedge funds.
RxSight Company Profile
(
Get Free Report)
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.
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