Richtech Robotics (NASDAQ:RR) Lowered to "Sell" Rating by 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 Price Performance

NASDAQ RR traded up $0.06 on Friday, hitting $3.04. 21,261,413 shares of the company were exchanged, compared to its average volume of 30,801,946. The company's 50 day moving average price is $2.20 and its 200-day moving average price is $2.09. Richtech Robotics has a twelve month low of $0.52 and a twelve month high of $5.20.

Richtech Robotics (NASDAQ:RR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.04). Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.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 stock was sold at an average price of $3.01, for a total value of $301,000.00. Following the transaction, the chief operating officer owned 1,100,000 shares in the company, valued at approximately $3,311,000. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 41.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Richtech Robotics by 128.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company's stock valued at $2,854,000 after buying an additional 824,253 shares during the last quarter. Bank of America Corp DE boosted its position in Richtech Robotics by 3,231.2% during the 2nd quarter. Bank of America Corp DE now owns 1,248,742 shares of the company's stock valued at $2,435,000 after buying an additional 1,211,256 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Richtech Robotics by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company's stock worth $1,682,000 after purchasing an additional 39,249 shares during the period. Jane Street Group LLC lifted its stake in shares of Richtech Robotics by 113.0% in the 4th quarter. Jane Street Group LLC now owns 442,248 shares of the company's stock valued at $1,194,000 after purchasing an additional 234,578 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Richtech Robotics in the 1st quarter worth about $703,000. Hedge funds and other institutional investors own 0.01% of the company's stock.

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.