Richtech Robotics (NASDAQ:RR) Price Target Raised to $6.00 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 - Free Report) had its target price increased by HC Wainwright from $3.50 to $6.00 in a report released on Friday morning, Marketbeat Ratings reports. HC Wainwright currently has a buy rating on the stock.

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

Richtech Robotics Stock Down 6.4%

Shares of NASDAQ:RR traded down $0.36 during trading on Friday, hitting $5.19. The stock had a trading volume of 42,617,518 shares, compared to its average volume of 16,611,699. The stock has a 50-day simple moving average of $2.57 and a two-hundred day simple moving average of $2.23. The stock has a market capitalization of $777.18 million, a price-to-earnings ratio of -30.36 and a beta of -4.49. Richtech Robotics has a 12-month low of $0.52 and a 12-month high of $5.71.

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

Insider Activity

In other news, COO Phil Zheng sold 100,000 shares of Richtech Robotics stock in a transaction that occurred 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 sale, the chief operating officer directly owned 1,100,000 shares of the company's stock, valued at $3,311,000. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 25.70% of the stock is owned by corporate insiders.

Institutional Trading of Richtech Robotics

A number of institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new stake in shares of Richtech Robotics in the fourth quarter worth approximately $31,000. DNB Asset Management AS boosted its stake in shares of Richtech Robotics by 44.0% in the second quarter. DNB Asset Management AS now owns 39,919 shares of the company's stock worth $78,000 after acquiring an additional 12,204 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Richtech Robotics in the first quarter worth approximately $25,000. ProShare Advisors LLC acquired a new stake in shares of Richtech Robotics in the second quarter worth approximately $28,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Richtech Robotics in the first quarter worth approximately $29,000. 0.01% of the stock is owned by institutional investors and hedge funds.

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.