RxSight (NASDAQ:RXST) Sets New 1-Year Low – Should You Sell?

RxSight, Inc. (NASDAQ:RXST) shares hit a new 52-week low on Monday . The company traded as low as $12.46 and last traded at $12.58, with a volume of 392549 shares. The stock had previously closed at $13.05.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RXST shares. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 target price on shares of RxSight in a research note on Thursday, April 3rd. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $17.00 price target (down from $40.00) on shares of RxSight in a research report on Friday, April 4th. Bank of America reiterated an “underperform” rating and issued a $22.00 price target (down from $36.00) on shares of RxSight in a research report on Thursday, April 3rd. UBS Group downgraded shares of RxSight from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $16.00 in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus decreased their price objective on shares of RxSight from $33.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.90.

RxSight Trading Down 4.0%

The firm has a market capitalization of $509.22 million, a PE ratio of -18.70 and a beta of 1.21. The business’s 50 day simple moving average is $14.49 and its 200 day simple moving average is $22.70.

RxSight (NASDAQ:RXST) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). RxSight had a negative net margin of 17.90% and a negative return on equity of 9.54%. The firm had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $38.74 million. During the same period in the previous year, the company earned ($0.25) EPS. The firm’s revenue for the quarter was up 28.5% compared to the same quarter last year. Analysts forecast that RxSight, Inc. will post -0.7 earnings per share for the current year.

Institutional Investors Weigh In On RxSight

Several large investors have recently modified their holdings of RXST. T. Rowe Price Investment Management Inc. raised its holdings in shares of RxSight by 885.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 719,818 shares of the company’s stock valued at $18,176,000 after purchasing an additional 646,791 shares in the last quarter. Royal Bank of Canada grew its position in shares of RxSight by 3,094.6% in the 4th quarter. Royal Bank of Canada now owns 508,491 shares of the company’s stock worth $17,481,000 after buying an additional 492,574 shares during the last quarter. DF Dent & Co. Inc. purchased a new position in shares of RxSight in the 4th quarter worth approximately $14,524,000. Bank of America Corp DE grew its position in shares of RxSight by 23.7% in the 4th quarter. Bank of America Corp DE now owns 2,159,923 shares of the company’s stock worth $74,258,000 after buying an additional 413,737 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its position in shares of RxSight by 32.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,551,620 shares of the company’s stock worth $53,345,000 after buying an additional 381,389 shares during the last quarter. Institutional investors own 78.78% of the company’s stock.

About RxSight

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.