Richtech Robotics Inc. (NASDAQ:RR) COO Sells $277,762.32 in Stock

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) COO Phil Zheng sold 105,213 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $2.64, for a total transaction of $277,762.32. Following the completion of the sale, the chief operating officer now owns 1,294,787 shares in the company, valued at approximately $3,418,237.68. This trade represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Richtech Robotics Stock Performance

Shares of RR traded up $0.03 during midday trading on Friday, reaching $2.37. The stock had a trading volume of 2,675,905 shares, compared to its average volume of 13,670,728. The firm has a 50 day simple moving average of $2.12 and a 200-day simple moving average of $2.09. Richtech Robotics Inc. has a one year low of $0.30 and a one year high of $5.20. The firm has a market cap of $270.80 million, a PE ratio of -15.77 and a beta of -5.19. The company has a current ratio of 39.74, a quick ratio of 70.11 and a debt-to-equity ratio of 0.01.

Richtech Robotics (NASDAQ:RR - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). The company had revenue of $1.17 million for the quarter, compared to analyst estimates of $1.91 million. Richtech Robotics had a negative return on equity of 32.24% and a negative net margin of 203.60%.

Institutional Trading of Richtech Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC raised its stake in Richtech Robotics by 113.0% in the 4th quarter. Jane Street Group LLC now owns 442,248 shares of the company's stock worth $1,194,000 after purchasing an additional 234,578 shares in the last quarter. Geode Capital Management LLC increased its holdings in Richtech Robotics by 93.3% in the 4th quarter. Geode Capital Management LLC now owns 440,760 shares of the company's stock valued at $1,190,000 after buying an additional 212,709 shares during the period. Northern Trust Corp bought a new position in Richtech Robotics in the 4th quarter valued at about $297,000. Renaissance Technologies LLC bought a new position in Richtech Robotics in the 4th quarter valued at about $226,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new position in Richtech Robotics in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 0.01% of the company's stock.

Analysts Set New Price Targets

RR has been the topic of several analyst reports. HC Wainwright began coverage on shares of Richtech Robotics in a report on Friday, April 11th. They issued a "buy" rating and a $3.50 target price on the stock. Lake Street Capital began coverage on shares of Richtech Robotics in a research report on Tuesday, March 18th. They set a "buy" rating and a $3.00 price objective for the company.

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.