RxSight (NASDAQ:RXST) Shares Gap Up - Still a Buy?

Shares of RxSight, Inc. (NASDAQ:RXST - Get Free Report) 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.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BTIG Research lifted their price objective on RxSight from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, July 15th. Oppenheimer lowered their price objective on RxSight from $72.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price objective on shares of RxSight in a report on Friday, September 13th. Jefferies Financial Group assumed coverage on RxSight in a report on Tuesday. They set a "buy" rating and a $72.00 target price on the stock. 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 report on Tuesday, August 6th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $61.63.

RxSight Price Performance

The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -49.26 and a beta of 1.20. The business has a fifty day moving average of $51.91 and a 200 day moving average of $53.67.

RxSight (NASDAQ:RXST - Get Free Report) last released its quarterly earnings data 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 return on equity of 19.33% and a negative net margin of 31.92%. The firm had revenue of $34.89 million for the quarter, compared to analysts' expectations of $32.33 million. During the same period in the prior year, the firm posted ($0.40) earnings per share. The firm's quarterly revenue was up 67.6% on a year-over-year basis. On average, equities research analysts expect that RxSight, Inc. will post -0.81 EPS for the current year.

Insider Buying and Selling at RxSight

In other RxSight news, insider Ilya Goldshleger sold 9,000 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $39.25, for a total value of $353,250.00. Following the sale, the insider now owns 42,246 shares of the company's stock, valued at $1,658,155.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 49,310 shares of company stock valued at $2,370,917 over the last quarter. 9.36% of the stock is owned by company insiders.

Institutional Trading of RxSight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RXST. CWM LLC increased its position in shares of RxSight by 727.5% during the second quarter. CWM LLC now owns 422 shares of the company's stock worth $25,000 after acquiring an additional 371 shares during the period. Nisa Investment Advisors LLC increased its position in shares of RxSight by 854.1% during the third quarter. Nisa Investment Advisors LLC now owns 582 shares of the company's stock worth $29,000 after acquiring an additional 521 shares during the period. Quest Partners LLC purchased a new stake in shares of RxSight during the second quarter worth $41,000. Larson Financial Group LLC purchased a new stake in shares of RxSight during the first quarter worth $51,000. Finally, Amalgamated Bank increased its holdings in RxSight by 21.3% in the second quarter. Amalgamated Bank now owns 1,177 shares of the company's stock valued at $71,000 after buying an additional 207 shares during the last quarter. Hedge funds and other 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.