No Street GP LP Increases Stock Position in RxSight, Inc. (NASDAQ:RXST)

No Street GP LP raised its holdings in shares of RxSight, Inc. (NASDAQ:RXST) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 500,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. RxSight makes up about 1.1% of No Street GP LP’s investment portfolio, making the stock its 23rd largest holding. No Street GP LP owned 1.24% of RxSight worth $17,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC boosted its position in shares of RxSight by 389.8% during the third quarter. Barclays PLC now owns 58,786 shares of the company’s stock valued at $2,906,000 after buying an additional 46,783 shares during the last quarter. Global Retirement Partners LLC bought a new position in RxSight during the 4th quarter valued at about $69,000. Vanguard Group Inc. boosted its holdings in shares of RxSight by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 2,383,548 shares of the company’s stock valued at $81,946,000 after acquiring an additional 96,464 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of RxSight by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 192,510 shares of the company’s stock worth $9,516,000 after acquiring an additional 7,494 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of RxSight by 10.0% during the fourth quarter. Bank of New York Mellon Corp now owns 102,882 shares of the company’s stock valued at $3,537,000 after purchasing an additional 9,385 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

RxSight Trading Down 4.0%

RxSight stock opened at $13.20 on Wednesday. RxSight, Inc. has a 12-month low of $13.03 and a 12-month high of $64.50. The firm has a market capitalization of $536.41 million, a price-to-earnings ratio of -15.90 and a beta of 1.32. The firm has a 50 day moving average of $18.77 and a 200 day moving average of $30.88.

RxSight (NASDAQ:RXST) last issued its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). RxSight had a negative net margin of 23.92% and a negative return on equity of 14.00%. The company had revenue of $37.90 million during the quarter, compared to the consensus estimate of $38.74 million. During the same quarter in the prior year, the firm posted ($0.25) EPS. RxSight’s quarterly revenue was up 28.5% compared to the same quarter last year. On average, analysts predict that RxSight, Inc. will post -0.7 EPS for the current year.

Insider Buying and Selling at RxSight

In other news, Director Tamara Fountain sold 7,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $25.71, for a total transaction of $179,970.00. Following the sale, the director now directly owns 24,793 shares in the company, valued at approximately $637,428.03. This represents a 22.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RXST shares. Stifel Nicolaus dropped their target price on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of RxSight in a research note on Thursday, April 3rd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $17.00 price objective (down previously from $40.00) on shares of RxSight in a report on Friday, April 4th. Bank of America reissued an “underperform” rating and issued a $22.00 target price (down previously from $36.00) on shares of RxSight in a report on Thursday, April 3rd. Finally, Wells Fargo & Company dropped their target price on RxSight from $35.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.60.

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.