RxSight (NASDAQ:RXST) Stock Rating Lowered by Oppenheimer

Oppenheimer cut shares of RxSight (NASDAQ:RXST - Free Report) from an outperform rating to a market perform rating in a research report report published on Wednesday morning, Marketbeat Ratings reports.

RXST has been the subject of several other research reports. Needham & Company LLC reissued a "buy" rating and set a $22.00 price objective on shares of RxSight in a research report on Wednesday. Stifel Nicolaus lowered their price objective on shares of RxSight from $33.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. Bank of America reissued an "underperform" rating and set a $22.00 price objective (down previously from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. BTIG Research reissued a "neutral" rating on shares of RxSight in a research report on Wednesday. Finally, Piper Sandler assumed coverage on shares of RxSight in a research report on Tuesday, April 15th. They set a "neutral" rating and a $18.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $23.90.

RxSight Stock Performance

NASDAQ:RXST traded down $0.46 during trading hours on Wednesday, hitting $8.00. The stock had a trading volume of 2,222,737 shares, compared to its average volume of 802,293. RxSight has a one year low of $6.32 and a one year high of $58.23. The company has a market cap of $325.12 million, a price-to-earnings ratio of -11.94 and a beta of 1.21. The business's 50 day moving average is $13.97 and its 200-day moving average is $21.93.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. State of Wyoming bought a new position in RxSight in the fourth quarter valued at $37,000. Coppell Advisory Solutions LLC grew its position 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 valued at $44,000 after acquiring an additional 672 shares during the period. Russell Investments Group Ltd. grew its position in shares of 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 acquiring an additional 2,525 shares during the period. AlphaQuest LLC increased its stake in shares of RxSight by 65.7% during the 4th quarter. AlphaQuest LLC now owns 5,086 shares of the company's stock worth $175,000 after purchasing an additional 2,017 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in shares of RxSight during the 4th quarter worth about $200,000. 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.