Richtech Robotics (NASDAQ:RR) Shares Up 19.8% – Here’s Why

Richtech Robotics Inc. (NASDAQ:RR) shares rose 19.8% during trading on Friday . The stock traded as high as $6.30 and last traded at $6.18. Approximately 101,572,309 shares changed hands during trading, an increase of 455% from the average daily volume of 18,313,416 shares. The stock had previously closed at $5.16.

Analyst Upgrades and Downgrades

RR has been the subject of several analyst reports. Wall Street Zen downgraded Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, September 7th. HC Wainwright increased their target price on Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Richtech Robotics in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Richtech Robotics presently has a consensus rating of “Hold” and an average price target of $4.50.

Richtech Robotics Trading Up 19.8%

The firm has a market capitalization of $926.32 million, a PE ratio of -36.35 and a beta of -4.14. The business has a 50 day moving average price of $3.05 and a 200-day moving average price of $2.41.

Richtech Robotics (NASDAQ:RR) last issued its earnings results on Monday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.42 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Insider Buying and Selling at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $5.11, for a total value of $511,000.00. Following the sale, the chief operating officer owned 1,000,000 shares in the company, valued at $5,110,000. This represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 25.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC acquired a new stake in shares of Richtech Robotics in the 4th quarter worth approximately $31,000. Private Advisor Group LLC acquired a new stake in shares of Richtech Robotics in the 1st quarter worth approximately $25,000. ProShare Advisors LLC acquired a new stake in shares of Richtech Robotics in the 2nd quarter worth approximately $28,000. SeaCrest Wealth Management LLC acquired a new stake in Richtech Robotics during the 1st quarter valued at $29,000. Finally, Delos Wealth Advisors LLC acquired a new stake in Richtech Robotics during the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 0.01% of the company’s stock.

Richtech Robotics Company Profile

Richtech Robotics Inc develops, manufactures, deploys, and sells robotic solutions for automation in the service industry. The company offers indoor transport and delivery, sanitation, and food and beverage automation solutions, such as ADAM and ARM worker robots; delivery robots, including Matradee, Matradee X, Matradee L, Richie, and Robbie; and cleaning robots comprising DUST-E SX, and DUST-E MX, as well as accessories, such as bus tubs, cup holders, magnetic tray cases, smartwatches, table location systems, and tray covers.