Richtech Robotics (NASDAQ:RR) Shares Up 3.8% – Should You Buy?

Richtech Robotics Inc. (NASDAQ:RR) shares traded up 3.8% during trading on Tuesday . The company traded as high as $3.32 and last traded at $3.24. 37,612,167 shares traded hands during mid-day trading, an increase of 75% from the average session volume of 21,444,412 shares. The stock had previously closed at $3.12.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RR. Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a report on Wednesday, October 8th. HC Wainwright lifted their price objective on Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Wall Street Zen cut Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Stock Performance

The stock has a market cap of $485.66 million, a price-to-earnings ratio of -19.06 and a beta of -4.14. The business has a 50-day simple moving average of $4.77 and a two-hundred day simple moving average of $3.09.

Insiders Place Their Bets

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of Richtech Robotics stock in a transaction 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 sale, the chief operating officer directly owned 1,000,000 shares in the company, valued at approximately $5,110,000. The trade was a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.79% of the company’s stock.

Hedge Funds Weigh In On Richtech Robotics

Several hedge funds have recently modified their holdings of RR. Russell Investments Group Ltd. acquired a new stake in shares of Richtech Robotics in the third quarter valued at about $38,000. Sovereign Financial Group Inc. bought a new stake in shares of Richtech Robotics during the 3rd quarter worth approximately $43,000. Virtue Capital Management LLC bought a new stake in Richtech Robotics during the third quarter worth $43,000. Rathbones Group PLC acquired a new stake in Richtech Robotics in the third quarter valued at $44,000. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of Richtech Robotics during the 3rd quarter worth about $45,000. Institutional investors 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.