RxSight, Inc. (NASDAQ:RXST) Receives Average Rating of “Reduce” from Brokerages

Shares of RxSight, Inc. (NASDAQ:RXST) have earned an average rating of “Reduce” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $9.5556.

A number of equities research analysts have weighed in on the company. Stifel Nicolaus set a $10.00 price target on RxSight in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of RxSight in a research report on Wednesday, October 8th. Needham & Company LLC boosted their target price on RxSight from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Zacks Research raised RxSight from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Finally, UBS Group reduced their price target on shares of RxSight from $16.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th.

Hedge Funds Weigh In On RxSight

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in RxSight by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 103,659 shares of the company’s stock worth $2,617,000 after purchasing an additional 777 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of RxSight by 38.4% in the first quarter. New York State Common Retirement Fund now owns 407,035 shares of the company’s stock worth $10,278,000 after buying an additional 112,984 shares during the period. Victory Capital Management Inc. lifted its stake in shares of RxSight by 3.6% in the 1st quarter. Victory Capital Management Inc. now owns 281,658 shares of the company’s stock valued at $7,112,000 after acquiring an additional 9,680 shares during the last quarter. Tempus Wealth Planning LLC purchased a new stake in RxSight during the 1st quarter valued at about $272,000. Finally, GSA Capital Partners LLP boosted its holdings in RxSight by 56.6% during the 1st quarter. GSA Capital Partners LLP now owns 38,456 shares of the company’s stock valued at $971,000 after acquiring an additional 13,892 shares during the period. Hedge funds and other institutional investors own 78.78% of the company’s stock.

RxSight Price Performance

Shares of RxSight stock opened at $9.60 on Wednesday. RxSight has a 1 year low of $6.32 and a 1 year high of $47.89. The firm has a market cap of $394.75 million, a PE ratio of -10.91 and a beta of 1.16. The company has a 50 day simple moving average of $8.91 and a two-hundred day simple moving average of $10.47.

RxSight (NASDAQ:RXST) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.15. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.82%. The firm had revenue of $30.34 million for the quarter, compared to analysts’ expectations of $25.63 million. During the same quarter last year, the company posted ($0.16) EPS. The business’s quarterly revenue was down 31.4% on a year-over-year basis. RxSight has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that RxSight will post -0.7 earnings per share for the current year.

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.