RxSight (NASDAQ:RXST) Upgraded at Zacks Research

Zacks Research upgraded shares of RxSight (NASDAQ:RXST) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. BTIG Research restated a “neutral” rating on shares of RxSight in a report on Wednesday, July 9th. Wall Street Zen cut shares of RxSight from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Bank of America dropped their price objective on shares of RxSight from $18.00 to $9.00 and set an “underperform” rating for the company in a report on Wednesday, July 9th. Oppenheimer cut shares of RxSight from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 9th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $9.00 price objective (down previously from $24.00) on shares of RxSight in a report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $10.00.

RxSight Stock Performance

RxSight stock opened at $10.02 on Monday. The company’s 50 day simple moving average is $8.57 and its 200-day simple moving average is $14.78. The company has a market capitalization of $410.02 million, a price-to-earnings ratio of -12.53 and a beta of 1.18. RxSight has a 1 year low of $6.32 and a 1 year high of $57.53.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $33.64 million during the quarter, compared to analysts’ expectations of $39.78 million. RxSight had a negative net margin of 21.93% and a negative return on equity of 11.56%. RxSight’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted ($0.16) earnings per share. Equities analysts expect that RxSight will post -0.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in shares of RxSight in the 4th quarter valued at $37,000. Raymond James Financial Inc. acquired a new position in shares of RxSight in the 2nd quarter valued at $28,000. Bessemer Group Inc. acquired a new position in shares of RxSight in the 2nd quarter valued at $33,000. Russell Investments Group Ltd. boosted its holdings in shares of RxSight by 161.2% in the 1st quarter. Russell Investments Group Ltd. now owns 4,091 shares of the company’s stock valued at $103,000 after buying an additional 2,525 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of RxSight by 614.1% in the 2nd quarter. CWM LLC now owns 4,520 shares of the company’s stock valued at $59,000 after buying an additional 3,887 shares in 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.