OMERS ADMINISTRATION Corp Invests $703,000 in Richtech Robotics Inc. $RR

Key Points

• OMERS ADMINISTRATION Corp has acquired 355,300 shares of Richtech Robotics Inc. for about $703,000, increasing its ownership to approximately 0.31% of the company.
• Insider trading activity includes COO Phil Zheng selling 100,000 shares, resulting in an 8.33% decrease in their ownership, with the total number of shares the COO retained valued at around $3.31 million.
• Richtech Robotics reported earnings in August with a negative return on equity of 23.85% and a net margin of -366.21%, while Wall Street analysts have recently upgraded the stock from a "sell" to a "hold" rating.

OMERS ADMINISTRATION Corp purchased a new stake in shares of Richtech Robotics Inc. (NASDAQ:RR - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 355,300 shares of the company's stock, valued at approximately $703,000. OMERS ADMINISTRATION Corp owned approximately 0.31% of Richtech Robotics at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in Richtech Robotics during the 1st quarter valued at $51,000. Millennium Management LLC acquired a new stake in Richtech Robotics during the 4th quarter valued at $198,000. Citadel Advisors LLC acquired a new stake in Richtech Robotics during the 4th quarter valued at $31,000. Jane Street Group LLC boosted its stake in Richtech Robotics by 113.0% during the 4th quarter. Jane Street Group LLC now owns 442,248 shares of the company's stock valued at $1,194,000 after acquiring an additional 234,578 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in Richtech Robotics during the 4th quarter valued at $113,000. 0.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Richtech Robotics from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $3.25.

Richtech Robotics Trading Down 5.2%

NASDAQ:RR traded down $0.14 during mid-day trading on Thursday, hitting $2.54. The stock had a trading volume of 19,855,481 shares, compared to its average volume of 14,401,241. The stock has a market capitalization of $380.72 million, a price-to-earnings ratio of -14.94 and a beta of -4.46. The company has a 50 day simple moving average of $2.13 and a 200-day simple moving average of $2.09. Richtech Robotics Inc. has a 52 week low of $0.52 and a 52 week high of $5.20.

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

Insider Buying and Selling

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $3.01, for a total transaction of $301,000.00. Following the transaction, the chief operating officer owned 1,100,000 shares of the company's stock, valued at approximately $3,311,000. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 41.30% of the company's stock.

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.