Richtech Robotics Inc. (NASDAQ:RR) Short Interest Up 71.5% in September

Key Points

• Short Interest Increases: Richtech Robotics Inc. (NASDAQ:RR) experienced a significant rise in short interest of 71.5% in September, totaling 24.42 million shares sold short as of September 30th.
• Analyst Ratings Mixed: Wall Street analysts have given mixed ratings for RR, with one firm downgrading the stock from "hold" to "sell," while another raised the target price from $3.50 to $6.00 and maintained a "buy" rating.
• Insider Selling: COO Phil Zheng sold 100,000 shares at an average price of $5.11, decreasing his ownership stake by 9.09% to 1 million shares valued at approximately $5.11 million.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 24,420,000 shares, a growth of 71.5% from the September 15th total of 14,240,000 shares. Based on an average daily trading volume, of 31,920,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 23.7% of the shares of the company are sold short. Currently, 23.7% of the shares of the company are sold short. Based on an average daily trading volume, of 31,920,000 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

RR has been the subject of several research analyst reports. Wall Street Zen cut shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday. HC Wainwright upped their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Richtech Robotics in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $4.50.

Insider Buying and Selling at Richtech Robotics

In other 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 value of $511,000.00. Following the completion of the sale, the chief operating officer directly owned 1,000,000 shares in the company, valued at approximately $5,110,000. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 25.70% of the company's stock.

Institutional Investors Weigh In On Richtech Robotics

Several large investors have recently made changes to their positions in RR. Cambridge Investment Research Advisors Inc. bought a new stake in Richtech Robotics during the 1st quarter worth about $51,000. NTV Asset Management LLC bought a new position in shares of Richtech Robotics in the first quarter worth about $50,000. Private Advisor Group LLC bought a new position in shares of Richtech Robotics in the first quarter worth about $25,000. Cary Street Partners Financial LLC raised its stake in shares of Richtech Robotics by 76.5% in the first quarter. Cary Street Partners Financial LLC now owns 60,000 shares of the company's stock worth $119,000 after acquiring an additional 26,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Richtech Robotics in the first quarter worth about $40,000. Institutional investors own 0.01% of the company's stock.

Richtech Robotics Trading Up 1.3%

Richtech Robotics stock traded up $0.07 on Tuesday, hitting $5.63. The company's stock had a trading volume of 43,054,255 shares, compared to its average volume of 60,806,668. The company has a fifty day moving average price of $4.08 and a 200-day moving average price of $2.75. Richtech Robotics has a one year low of $0.52 and a one year high of $7.43.

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

About Richtech Robotics

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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