Richtech Robotics (NASDAQ:RR) Trading 1.6% Higher – Time to Buy?

Shares of Richtech Robotics Inc. (NASDAQ:RR) traded up 1.6% during trading on Monday . The company traded as high as $4.11 and last traded at $3.80. 21,633,249 shares were traded during trading, an increase of 1% from the average session volume of 21,505,793 shares. The stock had previously closed at $3.74.

Analyst Ratings Changes

RR has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. Wall Street Zen cut Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, HC Wainwright increased their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.50.

Richtech Robotics Price Performance

The business has a 50-day moving average of $4.69 and a two-hundred day moving average of $3.03. The company has a market cap of $569.58 million, a P/E ratio of -22.35 and a beta of -4.14.

Richtech Robotics (NASDAQ:RR) last issued its quarterly 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 for 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 stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $5.11, for a total value of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares in the company, valued at approximately $5,110,000. This represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.79% of the company’s stock.

Institutional Investors Weigh In On Richtech Robotics

Several hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Richtech Robotics during the 1st quarter valued at about $51,000. Private Advisor Group LLC purchased a new position in Richtech Robotics in the 1st quarter valued at $25,000. Cary Street Partners Financial LLC lifted its stake in shares of Richtech Robotics by 76.5% in the first quarter. Cary Street Partners Financial LLC now owns 60,000 shares of the company’s stock worth $119,000 after buying an additional 26,000 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Richtech Robotics in the first quarter valued at approximately $40,000. Finally, WealthPlan Investment Management LLC purchased a new position in shares of Richtech Robotics during the 1st quarter worth $257,000. Hedge funds and other institutional investors 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.