Hanover Advisors Inc. Increases Stock Position in RxSight, Inc. (NASDAQ:RXST)

Hanover Advisors Inc. raised its position in shares of RxSight, Inc. (NASDAQ:RXST) by 18.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,498 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Hanover Advisors Inc.’s holdings in RxSight were worth $223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock valued at $29,000 after buying an additional 521 shares during the period. Quarry LP lifted its position in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after buying an additional 288 shares during the period. Point72 Hong Kong Ltd purchased a new position in RxSight during the third quarter valued at $34,000. Private Trust Co. NA purchased a new position in RxSight during the fourth quarter valued at $34,000. Finally, Arcadia Investment Management Corp MI purchased a new position in RxSight during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RXST shares. Stifel Nicolaus lowered their price target on RxSight from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price target on shares of RxSight in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group started coverage on RxSight in a research report on Friday, December 6th. They issued a “buy” rating and a $52.00 price target for the company. Finally, Wells Fargo & Company lowered their price target on RxSight from $40.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.63.

RxSight Stock Performance

NASDAQ RXST opened at $28.36 on Friday. RxSight, Inc. has a one year low of $26.29 and a one year high of $66.54. The stock has a 50-day moving average of $32.31 and a 200 day moving average of $43.10. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -34.17 and a beta of 1.19.

RxSight (NASDAQ:RXST) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.25). The business had revenue of $40.21 million during the quarter, compared to the consensus estimate of $40.23 million. RxSight had a negative return on equity of 14.00% and a negative net margin of 23.92%. On average, equities analysts predict that RxSight, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at RxSight

In other RxSight news, Director Shweta Maniar sold 3,519 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.87, for a total transaction of $108,631.53. Following the completion of the sale, the director now directly owns 7,383 shares in the company, valued at $227,913.21. The trade was a 32.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jesse Anderson Corley purchased 1,443 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were purchased at an average price of $31.18 per share, with a total value of $44,992.74. Following the completion of the purchase, the director now owns 1,443 shares in the company, valued at approximately $44,992.74. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.36% 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.