RxSight (NASDAQ:RXST) Shares Down 4.7% - Should You Sell?

RxSight, Inc. (NASDAQ:RXST - Get Free Report)'s share price fell 4.7% on Friday . The company traded as low as $15.30 and last traded at $15.15. 98,446 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 683,953 shares. The stock had previously closed at $15.89.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RXST shares. Needham & Company LLC reiterated a "buy" rating and issued a $43.00 price objective on shares of RxSight in a report on Thursday, April 3rd. Wells Fargo & Company raised RxSight from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $17.00 to $25.00 in a research note on Monday, May 19th. Bank of America reiterated an "underperform" rating and set a $22.00 price target (down from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. Stifel Nicolaus reduced their price objective on RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, March 19th. Finally, UBS Group lowered RxSight from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $45.00 to $16.00 in a report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, RxSight currently has a consensus rating of "Hold" and an average price target of $37.90.

RxSight Stock Up 0.6%

The firm has a market capitalization of $654.26 million, a PE ratio of -19.40 and a beta of 1.32. The business has a 50-day moving average price of $16.74 and a 200-day moving average price of $28.39.

RxSight (NASDAQ:RXST - Get Free Report) last released 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 return on equity of 14.00% and a negative net margin of 23.92%. The company had revenue of $37.90 million for the quarter, compared to analyst estimates of $38.74 million. During the same quarter in the previous year, the company posted ($0.25) earnings per share. The firm's revenue for the quarter was up 28.5% compared to the same quarter last year. On average, equities research analysts anticipate that RxSight, Inc. will post -0.7 earnings per share for the current year.

Insider Activity at RxSight

In other RxSight news, Director Tamara Fountain sold 7,000 shares of RxSight stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the transaction, the director now directly owns 24,793 shares of the company's stock, valued at $637,428.03. The trade was a 22.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.36% of the stock is currently owned by insiders.

Institutional Trading of RxSight

Several institutional investors have recently made changes to their positions in the company. 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 worth $2,358,000 after acquiring an additional 8,424 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of RxSight by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 310,411 shares of the company's stock worth $7,838,000 after purchasing an additional 113,767 shares during the period. Parkman Healthcare Partners LLC increased its position in shares of RxSight by 109.9% during the 1st quarter. Parkman Healthcare Partners LLC now owns 631,238 shares of the company's stock worth $15,939,000 after purchasing an additional 330,540 shares during the last quarter. Petrus Trust Company LTA raised its holdings in RxSight by 5.0% in the 1st quarter. Petrus Trust Company LTA now owns 19,651 shares of the company's stock valued at $496,000 after buying an additional 938 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in RxSight by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,861 shares of the company's stock valued at $552,000 after buying an additional 1,232 shares during the last quarter. 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.