RxSight, Inc. (NASDAQ:RXST) Given Consensus Rating of “Reduce” by Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have been assigned a consensus recommendation of “Reduce” from the fifteen research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.4444.

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of RxSight from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Wells Fargo & Company lowered their price objective on shares of RxSight from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Stifel Nicolaus lowered their price objective on shares of RxSight from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Monday, March 9th. Piper Sandler lowered their price objective on shares of RxSight from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Finally, Weiss Ratings downgraded shares of RxSight from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 7th.

Institutional Trading of RxSight

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of RxSight in the second quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of RxSight by 440.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,758 shares of the company’s stock valued at $39,000 after purchasing an additional 3,063 shares during the last quarter. CWM LLC raised its holdings in shares of RxSight by 211.1% in the fourth quarter. CWM LLC now owns 3,826 shares of the company’s stock valued at $40,000 after purchasing an additional 2,596 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of RxSight by 110.5% in the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock valued at $36,000 after purchasing an additional 2,089 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of RxSight in the first quarter valued at approximately $30,000. 78.78% of the stock is currently owned by institutional investors and hedge funds.

RxSight Stock Performance

Shares of RXST opened at $5.52 on Wednesday. RxSight has a twelve month low of $5.30 and a twelve month high of $16.74. The firm’s 50 day moving average price is $6.97 and its two-hundred day moving average price is $8.87. The firm has a market cap of $228.53 million, a P/E ratio of -4.88 and a beta of 1.24.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.