Richtech Robotics (NASDAQ:RR) Trading 8% Higher – Should You Buy?

Shares of Richtech Robotics Inc. (NASDAQ:RR) shot up 8% during mid-day trading on Thursday . The stock traded as high as $3.74 and last traded at $3.6950. 7,338,915 shares changed hands during trading, a decline of 68% from the average session volume of 23,089,547 shares. The stock had previously closed at $3.42.

Analyst Ratings Changes

A number of analysts have issued reports on RR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Richtech Robotics in a research report on Monday, December 22nd. HC Wainwright raised their price objective on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Finally, Wall Street Zen downgraded Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Stock Up 14.8%

The firm’s 50-day simple moving average is $3.69 and its 200-day simple moving average is $3.44. The firm has a market capitalization of $588.32 million, a P/E ratio of -23.03 and a beta of -3.63.

Institutional Investors Weigh In On Richtech Robotics

Several hedge funds have recently added to or reduced their stakes in RR. ProShare Advisors LLC purchased a new position in shares of Richtech Robotics during the 2nd quarter valued at about $28,000. Delos Wealth Advisors LLC bought a new position in Richtech Robotics during the second quarter valued at approximately $29,000. RiverGlades Family Offices LLC purchased a new position in shares of Richtech Robotics during the second quarter worth approximately $32,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Richtech Robotics in the 2nd quarter worth approximately $33,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Richtech Robotics in the 3rd quarter worth approximately $38,000. 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.