RxSight (NASDAQ:RXST) Hits New 12-Month Low – What’s Next?

RxSight, Inc. (NASDAQ:RXST)’s share price hit a new 52-week low on Tuesday . The company traded as low as $26.23 and last traded at $26.53, with a volume of 13106 shares trading hands. The stock had previously closed at $26.93.

Analysts Set New Price Targets

RXST has been the subject of several research reports. Stifel Nicolaus cut their price objective on RxSight from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their price target on shares of RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. UBS Group assumed coverage on shares of RxSight in a research note on Friday, December 6th. They issued a “buy” rating and a $52.00 target price on the stock. JPMorgan Chase & Co. cut their price target on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $43.00 price objective on shares of RxSight in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, RxSight currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

RxSight Stock Performance

The stock has a market cap of $1.08 billion, a PE ratio of -31.86 and a beta of 1.19. The stock’s 50-day moving average is $32.16 and its two-hundred day moving average is $42.82.

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

Insider Buying and Selling at RxSight

In other RxSight news, Director Jesse Anderson Corley bought 1,443 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now directly owns 1,443 shares of the company’s stock, valued at $44,992.74. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shweta Maniar sold 3,519 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total value of $108,631.53. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at approximately $227,913.21. The trade was a 32.28 % decrease in their position. The disclosure for this sale can be found here. 9.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RxSight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its position in shares of RxSight by 854.1% in the 3rd 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 last quarter. Quarry LP lifted its holdings in shares of RxSight by 82.3% in the 3rd quarter. Quarry LP now owns 638 shares of the company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of RxSight in the 3rd quarter valued at about $34,000. Private Trust Co. NA purchased a new position in RxSight during the 4th quarter worth approximately $34,000. Finally, State of Wyoming acquired a new position in shares of RxSight in the 4th quarter valued at $37,000. 78.78% of the stock is owned by institutional investors and hedge funds.

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.