Richtech Robotics (NASDAQ:RR) Trading Down 8.8% – Time to Sell?

by · The Markets Daily

Richtech Robotics Inc. (NASDAQ:RR – Get Free Report) shares fell 8.8% during mid-day trading on Tuesday . The stock traded as low as $3.98 and last traded at $4.05. 28,040,457 shares changed hands during mid-day trading, an increase of 30% from the average session volume of 21,519,031 shares. The stock had previously closed at $4.44.

Wall Street Analyst Weigh In

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

View Our Latest Report on Richtech Robotics

Richtech Robotics Stock Down 8.8%

The stock has a fifty day simple moving average of $4.63 and a 200 day simple moving average of $2.97. The firm has a market capitalization of $607.05 million, a P/E ratio of -23.82 and a beta of -4.14.

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

Insider Activity

In other news, COO Phil Zheng sold 100,000 shares of Richtech Robotics 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 directly owned 1,000,000 shares of the company’s stock, valued at approximately $5,110,000. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RR. Cambridge Investment Research Advisors Inc. purchased a new position in Richtech Robotics in the first quarter worth about $51,000. NTV Asset Management LLC purchased a new position in Richtech Robotics in the first quarter worth about $50,000. Private Advisor Group LLC purchased a new position in Richtech Robotics in the first quarter worth about $25,000. Cary Street Partners Financial LLC grew its position in Richtech Robotics by 76.5% in the first quarter. Cary Street Partners Financial LLC now owns 60,000 shares of the company’s stock worth $119,000 after acquiring an additional 26,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in Richtech Robotics in the first quarter worth about $40,000. Hedge funds and other institutional investors own 0.01% of the company’s stock.

Richtech Robotics Company Profile

(Get Free Report)

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.

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