Richtech Robotics (NASDAQ:RR) Trading 7.1% Higher – Time to Buy?

Shares of Richtech Robotics Inc. (NASDAQ:RR) traded up 7.1% during mid-day trading on Thursday . The company traded as high as $2.61 and last traded at $2.6350. 1,548,953 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 19,214,494 shares. The stock had previously closed at $2.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Richtech Robotics in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Richtech Robotics in a research report on Friday, April 24th. Finally, Wall Street Zen lowered Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.00.

Richtech Robotics Stock Performance

The firm has a market cap of $572.38 million, a price-to-earnings ratio of -18.96 and a beta of -1.34. The firm has a 50-day moving average price of $2.35 and a two-hundred day moving average price of $3.11.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Richtech Robotics during the first quarter worth approximately $1,630,000. Goldman Sachs Group Inc. purchased a new position in shares of Richtech Robotics in the 1st quarter valued at approximately $459,000. Geode Capital Management LLC grew its stake in shares of Richtech Robotics by 128.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock valued at $2,854,000 after purchasing an additional 824,253 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Richtech Robotics by 71.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 78,489 shares of the company’s stock valued at $153,000 after purchasing an additional 32,684 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of Richtech Robotics in the 2nd quarter valued at approximately $95,000. Institutional investors and hedge funds 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.