RxSight (NASDAQ:RXST) Shares Gap Up – Time to Buy?

RxSight, Inc. (NASDAQ:RXST) gapped up before the market opened on Tuesday . The stock had previously closed at $50.25, but opened at $53.16. RxSight shares last traded at $51.87, with a volume of 57,614 shares.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RXST. Wells Fargo & Company reduced their price target on shares of RxSight from $68.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Jefferies Financial Group began coverage on shares of RxSight in a research note on Tuesday. They set a “buy” rating and a $72.00 price target for the company. BTIG Research upped their price objective on RxSight from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Oppenheimer reduced their price objective on RxSight from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Finally, Stifel Nicolaus lowered their target price on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $61.63.

RxSight Trading Down 1.8 %

The business’s fifty day simple moving average is $51.83 and its 200-day simple moving average is $53.63. The firm has a market cap of $1.89 billion, a P/E ratio of -50.21 and a beta of 1.20.

RxSight (NASDAQ:RXST) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. RxSight had a negative return on equity of 19.33% and a negative net margin of 31.92%. The business had revenue of $34.89 million for the quarter, compared to analysts’ expectations of $32.33 million. The firm’s quarterly revenue was up 67.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.40) EPS. As a group, research analysts expect that RxSight, Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Activity

In other RxSight news, insider Ilya Goldshleger sold 3,100 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $53.19, for a total value of $164,889.00. Following the sale, the insider now directly owns 42,246 shares in the company, valued at $2,247,064.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 49,310 shares of company stock worth $2,370,917. 9.36% of the stock is owned by company insiders.

Institutional Trading of RxSight

Several institutional investors and hedge funds have recently modified their holdings of RXST. CWM LLC lifted its holdings in shares of RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company’s stock worth $25,000 after acquiring an additional 371 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in RxSight by 854.1% in the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after buying an additional 521 shares in the last quarter. Quest Partners LLC purchased a new stake in RxSight in the second quarter worth approximately $41,000. Larson Financial Group LLC bought a new position in RxSight during the first quarter valued at approximately $51,000. Finally, Amalgamated Bank raised its stake in shares of RxSight by 21.3% during the second quarter. Amalgamated Bank now owns 1,177 shares of the company’s stock worth $71,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors 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.