Goldman Sachs Group Inc. Invests $459,000 in Richtech Robotics Inc. $RR

Key Points

• Goldman Sachs has acquired a stake in Richtech Robotics Inc., purchasing 232,061 shares valued at approximately $459,000, representing around 0.20% of the company's stock.
• Richtech Robotics officials witnessed insider selling, with COO Phil Zheng selling 100,000 shares at $5.11 per share, reducing his stake by 9.09%.
• Analysts have mixed views on Richtech Robotics; while HC Wainwright raised their price target to $6.00 with a "buy" rating, Wall Street Zen downgraded it to "sell."

Goldman Sachs Group Inc. acquired a new stake in shares of Richtech Robotics Inc. (NASDAQ:RR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 232,061 shares of the company's stock, valued at approximately $459,000. Goldman Sachs Group Inc. owned approximately 0.20% of Richtech Robotics as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Richtech Robotics during the first quarter worth about $1,630,000. OMERS ADMINISTRATION Corp acquired a new position in Richtech Robotics in the 1st quarter valued at approximately $703,000. WealthPlan Investment Management LLC bought a new position in shares of Richtech Robotics during the first quarter valued at $257,000. Northern Trust Corp acquired a new position in shares of Richtech Robotics during the fourth quarter worth $297,000. Finally, Millennium Management LLC acquired a new position in shares of Richtech Robotics during the fourth quarter worth $198,000. Institutional investors and hedge funds own 0.01% of the company's stock.

Insider Buying and Selling at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares in the company, valued at $5,110,000. The trade was a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 25.70% of the stock is owned by corporate insiders.

Richtech Robotics Price Performance

Shares of Richtech Robotics stock opened at $4.20 on Friday. The stock's 50-day moving average is $2.76 and its 200 day moving average is $2.30. Richtech Robotics Inc. has a one year low of $0.52 and a one year high of $5.71. The firm has a market cap of $629.54 million, a price-to-earnings ratio of -24.70 and a beta of -4.46.

Richtech Robotics (NASDAQ:RR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.04). The business had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.42 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RR shares. HC Wainwright increased 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. Wall Street Zen cut Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Richtech Robotics has a consensus rating of "Buy" and a consensus price target of $4.50.

Richtech Robotics Company Profile

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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