Phil Zheng Sells 100,000 Shares of Richtech Robotics (NASDAQ:RR) Stock

Key Points

• Phil Zheng, COO of Richtech Robotics, sold 100,000 shares at an average price of $5.11 on September 22, resulting in a total transaction of $511,000 and representing a 9.09% decrease in his ownership position.
• Richtech Robotics stock is currently trading at $4.41, reflecting a 9.4% decline, while the company has a market cap of approximately $661 million.
• Analysts have mixed views on the stock, with Wall Street Zen downgrading it to a "sell" rating, while HC Wainwright raised its target price and gave it a "buy" rating.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) COO Phil Zheng sold 100,000 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the completion of the sale, the chief operating officer directly owned 1,000,000 shares of the company's stock, valued at $5,110,000. This represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Phil Zheng also recently made the following trade(s):

• On Tuesday, August 26th, Phil Zheng sold 100,000 shares of Richtech Robotics stock. The stock was sold at an average price of $3.01, for a total transaction of $301,000.00.

Richtech Robotics Stock Down 9.4%

Shares of Richtech Robotics stock traded down $0.46 during mid-day trading on Wednesday, hitting $4.41. The stock had a trading volume of 48,361,132 shares, compared to its average volume of 16,917,664. The firm has a 50-day moving average of $2.63 and a two-hundred day moving average of $2.25. The firm has a market cap of $661.03 million, a P/E ratio of -25.94 and a beta of -4.46. Richtech Robotics Inc. has a 12-month low of $0.52 and a 12-month high of $5.71.

Richtech Robotics (NASDAQ:RR - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.04) EPS for the quarter, meeting analysts' consensus estimates 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 return on equity of 23.85% and a negative net margin of 366.21%.

Hedge Funds Weigh In On Richtech Robotics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new stake in shares of Richtech Robotics during the first quarter valued at about $25,000. ProShare Advisors LLC purchased a new position in Richtech Robotics in the second quarter valued at about $28,000. SeaCrest Wealth Management LLC acquired a new stake in Richtech Robotics during the 1st quarter valued at approximately $29,000. Delos Wealth Advisors LLC acquired a new position in shares of Richtech Robotics in the 2nd quarter valued at approximately $29,000. Finally, Citadel Advisors LLC purchased a new position in shares of Richtech Robotics during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

RR has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. HC Wainwright increased their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price 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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