Mitsubishi UFJ Asset Management Co. Ltd. Takes $526,000 Position in Richtech Robotics Inc. $RR

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Richtech Robotics Inc. (NASDAQ:RR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 269,956 shares of the company’s stock, valued at approximately $526,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.24% of Richtech Robotics at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Richtech Robotics in the first quarter valued at about $1,630,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Richtech Robotics during the 1st quarter valued at about $703,000. Goldman Sachs Group Inc. purchased a new stake in shares of Richtech Robotics during the 1st quarter valued at about $459,000. WealthPlan Investment Management LLC lifted its stake in shares of Richtech Robotics by 11.1% in the 2nd quarter. WealthPlan Investment Management LLC now owns 144,313 shares of the company’s stock worth $281,000 after purchasing an additional 14,450 shares during the period. Finally, Capital Advisors Inc. OK purchased a new position in shares of Richtech Robotics in the second quarter worth approximately $195,000. Institutional investors own 0.01% of the company’s stock.

Insiders Place Their Bets

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the stock in a transaction 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 completion of the sale, 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 SEC, which is accessible through the SEC website. Corporate insiders own 19.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RR. HC Wainwright boosted their target price 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 reaffirmed a “sell (e+)” rating on shares of Richtech Robotics in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.50.

Richtech Robotics Price Performance

Shares of NASDAQ RR opened at $3.35 on Friday. The stock has a market cap of $502.13 million, a PE ratio of -19.70 and a beta of -4.13. Richtech Robotics Inc. has a 1 year low of $0.52 and a 1 year high of $7.43. The firm has a fifty day moving average price of $4.77 and a 200-day moving average price of $3.06.

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.