Short Interest in RxSight, Inc. (NASDAQ:RXST) Grows By 29.3%

RxSight, Inc. (NASDAQ:RXST) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 5,358,739 shares, an increase of 29.3% from the January 29th total of 4,144,635 shares. Currently, 14.4% of the company’s stock are short sold. Based on an average trading volume of 1,142,570 shares, the short-interest ratio is presently 4.7 days. Based on an average trading volume of 1,142,570 shares, the short-interest ratio is presently 4.7 days. Currently, 14.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley increased their price target on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. William Blair began coverage on shares of RxSight in a research report on Friday, January 30th. They issued a “market perform” rating on the stock. Stifel Nicolaus set a $10.00 price target on shares of RxSight in a research report on Thursday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of RxSight in a report on Thursday. Finally, Wolfe Research upgraded RxSight to an “outperform” rating in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, RxSight presently has a consensus rating of “Reduce” and an average price target of $9.89.

Institutional Investors Weigh In On RxSight

Several institutional investors and hedge funds have recently bought and sold shares of RXST. Artisan Partners Limited Partnership boosted its holdings in RxSight by 27.4% during the second quarter. Artisan Partners Limited Partnership now owns 2,252,544 shares of the company’s stock valued at $29,283,000 after purchasing an additional 485,021 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of RxSight by 130.6% during the third quarter. Millennium Management LLC now owns 2,193,062 shares of the company’s stock valued at $19,716,000 after acquiring an additional 1,241,885 shares during the period. No Street GP LP boosted its stake in shares of RxSight by 35.4% in the 3rd quarter. No Street GP LP now owns 1,625,000 shares of the company’s stock valued at $14,609,000 after purchasing an additional 425,000 shares in the last quarter. Brown Capital Management LLC grew its holdings in shares of RxSight by 18.2% in the 2nd quarter. Brown Capital Management LLC now owns 1,119,240 shares of the company’s stock worth $14,550,000 after purchasing an additional 171,952 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of RxSight by 8.0% during the 4th quarter. BNP Paribas Financial Markets now owns 975,744 shares of the company’s stock worth $10,167,000 after purchasing an additional 71,898 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

RxSight Stock Performance

Shares of RXST stock opened at $7.61 on Tuesday. The firm has a market capitalization of $314.06 million, a price-to-earnings ratio of -8.01 and a beta of 1.16. The company has a 50 day moving average price of $9.26 and a 200 day moving average price of $9.50. RxSight has a one year low of $6.32 and a one year high of $29.00.

About RxSight

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.