Richtech Robotics (NASDAQ:RR) Posts Quarterly Earnings Results, Hits Estimates

Key Points

• Richtech Robotics reported quarterly earnings of ($0.04) per share, meeting the consensus estimate but showing negative metrics, with a return on equity of 31.58% and a net margin of 281.42%.
• Following the earnings announcement, Richtech Robotics’ stock increased by 15.3%, closing at $2.11 with a significant trading volume of over 19 million shares.
• Insider trading was noted as COO Phil Zheng sold 105,213 shares valued at approximately $278,000, representing a 7.52% decrease in his position.

Richtech Robotics (NASDAQ:RR - Get Free Report) posted its earnings results on Monday. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04), Zacks reports. Richtech Robotics had a negative return on equity of 31.58% and a negative net margin of 281.42%.

Richtech Robotics Stock Up 15.3%

Shares of Richtech Robotics stock traded up $0.28 on Monday, hitting $2.11. The stock had a trading volume of 19,010,405 shares, compared to its average volume of 8,336,991. Richtech Robotics has a twelve month low of $0.46 and a twelve month high of $5.20. The business's 50 day moving average is $1.98 and its two-hundred day moving average is $2.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 75.74 and a quick ratio of 73.23.

Insider Transactions at Richtech Robotics

In other Richtech Robotics news, COO Phil Zheng sold 105,213 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $2.64, for a total value of $277,762.32. Following the sale, the chief operating officer owned 1,294,787 shares of the company's stock, valued at approximately $3,418,237.68. This trade represents a 7.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 41.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Richtech Robotics during the 1st quarter valued at about $1,630,000. Goldman Sachs Group Inc. bought a new stake in Richtech Robotics during the 1st quarter valued at $459,000. Finally, Geode Capital Management LLC raised its holdings in 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 acquiring an additional 824,253 shares during the period. 0.01% of the stock is owned by institutional investors.

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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