Richtech Robotics (NASDAQ:RR) Stock Price Up 2.8% – Still a Buy?

Shares of Richtech Robotics Inc. (NASDAQ:RR) shot up 2.8% during trading on Friday . The company traded as high as $3.47 and last traded at $3.35. 17,869,503 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 21,405,957 shares. The stock had previously closed at $3.26.

Analysts Set New Price Targets

A number of research analysts have issued reports on RR shares. Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, HC Wainwright raised 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. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Trading Up 2.8%

The firm has a market capitalization of $502.13 million, a PE ratio of -19.70 and a beta of -4.13. The firm’s fifty day moving average price is $4.75 and its 200 day moving average price is $3.06.

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

Insider Activity

In other news, COO Phil Zheng sold 100,000 shares of the company’s stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 19.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RR. Private Advisor Group LLC acquired a new stake in shares of Richtech Robotics during the 1st quarter worth approximately $25,000. ProShare Advisors LLC purchased a new stake in Richtech Robotics during the second quarter worth $28,000. Delos Wealth Advisors LLC purchased a new stake in Richtech Robotics during the second quarter worth $29,000. RiverGlades Family Offices LLC acquired a new stake in Richtech Robotics during the second quarter valued at $32,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in Richtech Robotics in the second quarter valued at $33,000. 0.01% of the stock is owned by institutional investors and hedge funds.

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.