Richtech Robotics (NASDAQ:RR) Given New $6.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has raised its price target for Richtech Robotics from $3.50 to $6.00, suggesting a potential upside of 33.63% from the previous close.
• Wall Street Zen recently downgraded Richtech Robotics from a "hold" to a "sell" rating, indicating mixed sentiments among analysts.
• Richtech Robotics reported a revenue of $1.18 million for the last quarter, which fell short of the consensus estimate of $1.42 million, reflecting ongoing financial challenges for the company.

Richtech Robotics (NASDAQ:RR - Get Free Report) had its price target lifted by investment analysts at HC Wainwright from $3.50 to $6.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective would indicate a potential upside of 33.63% from the company's previous close.

Separately, Wall Street Zen cut shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $4.50.

Richtech Robotics Trading Up 12.8%

NASDAQ RR opened at $4.49 on Friday. Richtech Robotics has a 1-year low of $0.52 and a 1-year high of $5.20. The company has a 50 day moving average of $2.44 and a 200-day moving average of $2.18. The company has a market cap of $673.01 million, a price-to-earnings ratio of -26.41 and a beta of -4.46.

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

Insider Transactions at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of Richtech Robotics stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 1,100,000 shares of the company's stock, valued at $3,311,000. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 41.30% of the stock is owned by company insiders.

Institutional Trading of Richtech Robotics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC bought a new stake in shares of Richtech Robotics during the first quarter worth $25,000. ProShare Advisors LLC bought a new stake in shares of Richtech Robotics during the second quarter worth $28,000. SeaCrest Wealth Management LLC bought a new stake in shares of Richtech Robotics during the first quarter worth $29,000. Delos Wealth Advisors LLC bought a new stake in shares of Richtech Robotics during the second quarter worth $29,000. Finally, Citadel Advisors LLC bought a new stake in shares of Richtech Robotics during the fourth quarter worth $31,000. Institutional investors 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.

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