Richtech Robotics (NASDAQ:RR) Trading Up 12.2% – Should You Buy?

Richtech Robotics Inc. (NASDAQ:RR)’s stock price was up 12.2% on Friday . The company traded as high as $6.14 and last traded at $6.08. Approximately 35,462,046 shares traded hands during mid-day trading, an increase of 67% from the average daily volume of 21,231,225 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

Several equities research analysts recently commented on RR shares. HC Wainwright upped their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Stock Performance

The company’s 50 day moving average price is $4.28 and its 200 day moving average price is $2.83. The company has a market cap of $911.33 million, a price-to-earnings ratio of -35.76 and a beta of -4.14.

Richtech Robotics (NASDAQ:RR) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 366.21% and a negative return on equity of 23.85%.

Insider Activity at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the completion of the transaction, the chief operating officer directly owned 1,000,000 shares of the company’s stock, valued at approximately $5,110,000. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.70% of the company’s stock.

Institutional Investors Weigh In On Richtech Robotics

A number of hedge funds have recently made changes to their positions in RR. Private Advisor Group LLC acquired a new stake in Richtech Robotics in the 1st quarter valued at about $25,000. ProShare Advisors LLC bought a new position in shares of Richtech Robotics in the 2nd quarter valued at about $28,000. Delos Wealth Advisors LLC bought a new position in shares of Richtech Robotics in the 2nd quarter valued at about $29,000. RiverGlades Family Offices LLC bought a new position in shares of Richtech Robotics in the 2nd quarter valued at about $32,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Richtech Robotics in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 0.01% of the company’s stock.

About Richtech Robotics

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.