Insider Selling: Richtech Robotics Inc. (NASDAQ:RR) COO Sells 105,213 Shares of 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 shares were sold at an average price of $2.64, for a total value of $277,762.32. Following the transaction, the chief operating officer now directly owns 1,294,787 shares in the company, valued at $3,418,237.68. The trade was a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Richtech Robotics Stock Performance

NASDAQ RR traded up $0.02 on Friday, reaching $2.36. 14,792,855 shares of the company's stock traded hands, compared to its average volume of 11,920,584. The firm has a market cap of $270.23 million, a price-to-earnings ratio of -15.73 and a beta of -5.19. The stock has a 50 day moving average price of $2.13 and a 200-day moving average price of $2.10. Richtech Robotics Inc. has a fifty-two week low of $0.30 and a fifty-two week high of $5.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 70.11 and a current ratio of 39.74.

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 business had revenue of $1.17 million for the quarter, compared to analyst estimates of $1.91 million. Richtech Robotics had a negative net margin of 203.60% and a negative return on equity of 32.24%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RR. HC Wainwright began coverage on Richtech Robotics in a report on Friday, April 11th. They set a "buy" rating and a $3.50 price target on the stock. Lake Street Capital began coverage on Richtech Robotics in a report on Tuesday, March 18th. They set a "buy" rating and a $3.00 price target on the stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new position in shares of Richtech Robotics in the first quarter worth about $459,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Richtech Robotics in the first quarter worth about $1,630,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Richtech Robotics in the first quarter worth about $703,000. American Century Companies Inc. acquired a new position in shares of Richtech Robotics in the first quarter worth about $78,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Richtech Robotics in the first quarter worth about $122,000. Institutional investors and hedge funds own 0.01% 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.