RxSight, Inc. (NASDAQ:RXST) Sees Large Increase in Short Interest

RxSight, Inc. (NASDAQ:RXST - Get Free Report) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,740,000 shares, a growth of 25.1% from the October 15th total of 2,190,000 shares. Approximately 7.2% of the company's stock are short sold. Based on an average daily volume of 464,800 shares, the short-interest ratio is currently 5.9 days.

Insider Buying and Selling at RxSight

In other news, Director Jesse Anderson Corley purchased 11,111 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was acquired at an average cost of $45.37 per share, with a total value of $504,106.07. Following the completion of the transaction, the director now owns 468,571 shares in the company, valued at $21,259,066.27. This represents a 2.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ilya Goldshleger sold 3,100 shares of RxSight stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $53.19, for a total transaction of $164,889.00. Following the completion of the transaction, the insider now directly owns 42,246 shares in the company, valued at approximately $2,247,064.74. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,745 shares of company stock valued at $2,240,200. Company insiders own 9.36% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RXST. CWM LLC grew its position in RxSight by 727.5% during the 2nd quarter. CWM LLC now owns 422 shares of the company's stock worth $25,000 after purchasing an additional 371 shares during the period. Nisa Investment Advisors LLC grew its holdings in 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. Quarry LP grew its holdings in RxSight by 82.3% during the third quarter. Quarry LP now owns 638 shares of the company's stock worth $32,000 after acquiring an additional 288 shares during the period. Point72 Hong Kong Ltd purchased a new position in RxSight during the third quarter valued at approximately $34,000. Finally, Quest Partners LLC purchased a new stake in RxSight in the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 78.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group began coverage on RxSight in a research report on Tuesday, October 29th. They set a "buy" rating and a $72.00 price target on the stock. Oppenheimer decreased their price target on RxSight from $72.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company dropped their price target on RxSight from $68.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price objective on shares of RxSight in a research report on Friday, September 13th. Finally, Stifel Nicolaus lowered their target price on shares of RxSight from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, RxSight presently has a consensus rating of "Buy" and an average target price of $61.63.

RxSight Price Performance

RXST traded up $0.89 during trading on Friday, reaching $45.05. 668,951 shares of the company's stock were exchanged, compared to its average volume of 490,411. RxSight has a 1 year low of $27.07 and a 1 year high of $66.54. The company's fifty day simple moving average is $50.48 and its 200-day simple moving average is $53.33. The stock has a market capitalization of $1.82 billion, a P/E ratio of -54.28 and a beta of 1.19.

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.