The stock of RxSight Inc. (NASDAQ:RXST) increased by $0.23 on Friday to finish at $28.17, up 0.82 percent. The last five days have seen an average of 829,900 shares of common stock traded. 30 times new highs were reached in the current year, with a gain of $15.50. The average number of shares traded over the last 20 days was 533,380, while the average volume over the last 50 days totaled 507,804.
RXST stock dropped -9.01% since last month. On 08/10/23, the company’s shares reached a one-month low of $27.00. The stock touched a high of $33.77 on 07/28/23, after rallying from a low of $9.78 in 52 weeks. The price of RXST stock has risen by 122.34% or $15.50 this year, reaching a new high 30 times. Still, the stock price is down -16.58% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
RXST stock investors should be aware that RxSight Inc. (RXST) stock had its last reported insider trading activity 185 days ago on Feb 10. On Feb 10, Director Tammenoms Bakker Juliet acquired 480,000 shares at $12.50 each. This transaction resulted in the insider spending $6,000,000.
Valuation Metrics
Beta for the stock is 0.73. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 14.86, the price-to-book (PB) ratio of 6.18.
Financial Health
For the three months ended June 29, RxSight Inc.’s quick ratio was 9.80, while its current ratio was 10.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.12, and the total debt to equity ratio is 0.13. As far as profitability goes, gross margin for the trailing twelve months is 52.50% percent. RxSight Inc.’s EBITDA margin for the year ended June 29 was -121.00%, whereas its operating margin stood at -86.60% for the same period. Based on annual data, it had gross profit of $21.33 million and revenue of $49.01 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RXST’s return on assets (ROA) during the last 12 months has been -33.80%. There was a -48.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -48.70%.
Earnings Surprise
According to RxSight Inc.’s quarterly financial report for the quarter that ended June 29, it had $19.59 million in total debt versus $138.34 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $20.02 million, while revenues rose by 43.26% to $17.49 million. It was predicted that RxSight Inc.’s quarterly earnings would be -$0.39, but it ended up being -$0.47, beating the consensus by 17.00%. EBITDA was -$14.15 million for the quarter. At the end of RxSight Inc.’s most recent quarter ended June 29, its liabilities totaled 38.07 million, while its total debt was $23.41 million. Equity owned by shareholders amounts to $35.64 million.
Technical Picture
Here’s a quick look at RxSight Inc.’s (RXST) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 34.58%, suggesting the stock is Neutral, with a 46.90% historical volatility rate.
The stochastic %K and %D were 10.71% and 9.88% respectively, while the average true range (ATR) was 1.70. Based on the 14-day stochastic reading of 17.28%, the RSI (14) reading is 40.78%. On the 9-day MACD Oscillator, the stock is at -2.09, and the 14-day reading is at -2.95.
Analyst Ratings
In its analyst report released on April 13, 2023, Oppenheimer began covering RxSight Inc. (NASDAQ: RXST). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned RxSight Inc. (RXST) an Buy rating. RXST is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 5 others recommend it as a buy.
What is RXST’s price target for the next 12 months?
The current consensus forecast for the stock is between $31.00 and $36.00, with a median target price of $33.00. In analyzing these forecasts, the average price target given by analysts for RxSight Inc. (RXST) is $33.00.
