RxSight Inc. (NASDAQ: RXST) stock jumped 0.51% on Friday to $29.83 against a previous-day closing price of $29.68. With 1.09 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.47 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $30.09 whereas the lowest price it dropped to was $29.50. The 52-week range on RXST shows that it touched its highest point at $33.77 and its lowest point at $9.78 during that stretch. It currently has a 1-year price target of $33.80. Beta for the stock currently stands at 0.71.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RXST was up-trending over the past week, with a rise of 2.90%, but this was down by -1.49% over a month. Three-month performance surged to 16.12% while six-month performance rose 96.38%. The stock gained 129.11% in the past year, while it has gained 135.44% so far this year. A look at the trailing 12-month EPS for RXST yields -1.94 with Next year EPS estimates of -1.44. For the next quarter, that number is -0.43. This implies an EPS growth rate of -32.70% for this year and 14.80% for next year.
Float and Shares Shorts:
At present, 34.50 million RXST shares are outstanding with a float of 28.82 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.41 million, which was 3.95% higher than short shares on Jul 30, 2023. In addition to Dr. Ronald M. Kurtz M.D. as the firm’s Pres, CEO & Director, Ms. Shelley B. Thunen serves as its CFO & Assistant Sec.
Institutional Ownership:
Other institutions hold 41.26% of RXST, in contrast to 20.37% held by mutual funds. Shares owned by individuals account for 10.47%. As the largest shareholder in RXST with 8.57% of the stake, RA Capital Management LP holds 3,052,796 shares worth 3,052,796. A second-largest stockholder of RXST, Artisan Partners LP, holds 2,078,470 shares, controlling over 5.83% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in RXST, holding 1,481,430 shares or 4.16% stake. With a 3.60% stake in RXST, the Artisan International Small-Mid F is the largest stakeholder. A total of 1,281,926 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.77% of RXST stock, is the second-largest Mutual Fund holder. It holds 632,138 shares valued at 18.34 million. iShares Russell 2000 ETF holds 1.71% of the stake in RXST, owning 609,858 shares worth 17.69 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, RXST reported revenue of $11.36M and operating income of -$15.79M. The EBITDA in the recently reported quarter was -$14.55M and diluted EPS was -$0.61.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RXST since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RXST analysts setting a high price target of $36.00 and a low target of $31.00, the average target price over the next 12 months is $33.33. Based on these targets, RXST could surge 20.68% to reach the target high and rise by 3.92% to reach the target low. Reaching the average price target will result in a growth of 11.73% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded RXST stock several times over the past three months with 5 Buys and 4 Sells. In these transactions, 131,987 shares were bought while 1,224,409 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 475,720 while 2,296,643 shares were sold.
