Richtech Robotics (NASDAQ:RR) Cut to "Sell" at Wall Street Zen

Key Points

• Richtech Robotics has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling a lack of confidence from analysts regarding the company's stock performance.
• The company reported a quarterly revenue of $1.18 million, falling short of analysts' expectations of $1.42 million, with a negative net margin of 366.21%.
• Insider trading activity was noted, with COO Phil Zheng selling 100,000 shares for $301,000, decreasing his ownership stake in the company by 8.33%.

Wall Street Zen downgraded shares of Richtech Robotics (NASDAQ:RR - Free Report) from a hold rating to a sell rating in a research report report published on Sunday.

Richtech Robotics Stock Up 2.2%

Shares of NASDAQ:RR traded up $0.07 during midday trading on Friday, hitting $3.29. The stock had a trading volume of 34,524,999 shares, compared to its average volume of 33,168,748. Richtech Robotics has a 12 month low of $0.52 and a 12 month high of $5.20. The business's 50-day simple moving average is $2.27 and its 200-day simple moving average is $2.12. The company has a market cap of $493.14 million, a P/E ratio of -19.35 and a beta of -4.46.

Richtech Robotics (NASDAQ:RR - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, meeting 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 during the quarter, compared to analysts' expectations of $1.42 million.

Insider Buying and Selling at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $3.01, for a total value of $301,000.00. Following the completion of the transaction, the chief operating officer directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 41.30% of the company's stock.

Hedge Funds Weigh In On Richtech Robotics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of Richtech Robotics by 128.9% in the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company's stock valued at $2,854,000 after acquiring an additional 824,253 shares during the period. Bank of America Corp DE boosted its position in shares of Richtech Robotics by 3,231.2% in the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company's stock valued at $2,435,000 after acquiring an additional 1,211,256 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Richtech Robotics by 4.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company's stock valued at $1,682,000 after acquiring an additional 39,249 shares during the period. Jane Street Group LLC boosted its position in shares of Richtech Robotics by 113.0% in the fourth 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 period. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Richtech Robotics in the first quarter valued at about $703,000. 0.01% of the stock is owned by institutional investors.

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.