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

RxSight, Inc. (NASDAQ:RXST)’s share price gapped up prior to trading 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 Ratings Changes

Several analysts recently commented on RXST shares. Stifel Nicolaus reduced their target price on RxSight from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. BTIG Research increased their price objective on shares of RxSight from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of RxSight in a research report on Friday, September 13th. Jefferies Financial Group began coverage on RxSight in a research report on Tuesday. They issued a “buy” rating and a $72.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on RxSight from $68.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $61.63.

RxSight Price Performance

The firm has a fifty day simple moving average of $51.83 and a 200-day simple moving average of $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 announced its quarterly earnings results on Monday, August 5th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06. RxSight had a negative net margin of 31.92% and a negative return on equity of 19.33%. The business had revenue of $34.89 million during the quarter, compared to analyst estimates of $32.33 million. During the same quarter in the previous year, the business posted ($0.40) EPS. RxSight’s quarterly revenue was up 67.6% on a year-over-year basis. On average, equities analysts predict that RxSight, Inc. will post -0.81 earnings per share for the current year.

Insider Buying and Selling

In other RxSight news, insider Ilya Goldshleger sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $49.79, for a total transaction of $154,349.00. Following the completion of the sale, the insider now directly owns 42,246 shares of the company’s stock, valued at approximately $2,103,428.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 49,310 shares of company stock worth $2,370,917 in the last quarter. Insiders own 9.36% of the company’s stock.

Hedge Funds Weigh In On RxSight

A number of hedge funds have recently bought and sold shares of the company. Arista Wealth Management LLC purchased a new stake in shares of RxSight in the third quarter valued at about $258,000. Nisa Investment Advisors LLC grew its position in RxSight by 854.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 582 shares of the company’s stock worth $29,000 after purchasing an additional 521 shares in the last quarter. Sara Bay Financial increased its stake in RxSight by 0.8% in the 3rd quarter. Sara Bay Financial now owns 108,853 shares of the company’s stock valued at $5,381,000 after buying an additional 832 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of RxSight during the 2nd quarter worth approximately $3,670,000. Finally, Cim LLC purchased a new position in shares of RxSight in the 2nd quarter worth approximately $476,000. 78.78% of the stock is owned by hedge funds and other institutional investors.

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.