RxSight (NASDAQ:RXST) Stock Price Up 8.8% – What’s Next?

RxSight, Inc. (NASDAQ:RXST) shares rose 8.8% during trading on Thursday . The company traded as high as $26.50 and last traded at $26.52. Approximately 111,626 shares were traded during trading, a decline of 79% from the average daily volume of 529,793 shares. The stock had previously closed at $24.37.

Wall Street Analyst Weigh In

RXST has been the topic of a number of recent research reports. Wells Fargo & Company decreased their target price on RxSight from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus decreased their price objective on RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. cut their target price on RxSight from $62.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Bank of America lowered their price target on shares of RxSight from $60.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of RxSight in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

RxSight Stock Performance

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -32.08 and a beta of 1.22. The business’s 50-day moving average is $29.27 and its 200-day moving average is $39.44.

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

Insiders Place Their Bets

In related news, Director Shweta Maniar sold 3,519 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.87, for a total transaction of $108,631.53. Following the transaction, the director now owns 7,383 shares in the company, valued at $227,913.21. This represents a 32.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jesse Anderson Corley acquired 1,443 shares of the stock in a transaction on Wednesday, January 15th. The stock was bought at an average price of $31.18 per share, with a total value of $44,992.74. Following the transaction, the director now directly owns 1,443 shares in the company, valued at approximately $44,992.74. This represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 9.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quarry LP raised its position in shares of RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company’s stock worth $32,000 after acquiring an additional 288 shares during the last quarter. Mountain Capital Investment Advisors Inc. raised its holdings in RxSight by 3.8% during the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 8,779 shares of the company’s stock worth $302,000 after purchasing an additional 320 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in RxSight by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,911 shares of the company’s stock worth $1,034,000 after purchasing an additional 399 shares during the last quarter. Wells Fargo & Company MN lifted its position in RxSight by 1.7% during the 4th quarter. Wells Fargo & Company MN now owns 26,574 shares of the company’s stock valued at $914,000 after purchasing an additional 445 shares during the period. Finally, MCIA Inc boosted its stake in shares of RxSight by 5.7% in the 3rd quarter. MCIA Inc now owns 8,459 shares of the company’s stock valued at $385,000 after purchasing an additional 459 shares during the last quarter. Institutional investors and hedge funds 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.