Richtech Robotics (NASDAQ:RR) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Richtech Robotics from “strong sell” to “hold,” while Weiss Ratings maintained a “sell (D-)” rating. The stock has an overall consensus rating of “Hold” and a $6.00 target price.
• Richtech shares opened at $1.80, with a market capitalization of about $387 million and a 52-week range of $1.30 to $7.43.
• Several major institutional investors increased their holdings, including Vanguard, State Street, Bank of America, Geode Capital Management and UBS, although institutional and hedge-fund ownership remains just 0.01%.

Richtech Robotics (NASDAQ:RR - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "hold" rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Richtech Robotics in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $6.00.

Richtech Robotics Stock Up 4.7%

RR stock opened at $1.80 on Friday. The firm has a 50 day moving average of $1.82 and a 200 day moving average of $2.38. The stock has a market capitalization of $387.18 million, a PE ratio of -18.00 and a beta of -0.65. Richtech Robotics has a 52 week low of $1.30 and a 52 week high of $7.43.

Institutional Trading of Richtech Robotics

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Richtech Robotics by 164.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company's stock valued at $19,789,000 after purchasing an additional 2,865,386 shares in the last quarter. State Street Corp raised its position in shares of Richtech Robotics by 99.7% in the fourth quarter. State Street Corp now owns 4,446,247 shares of the company's stock valued at $14,361,000 after buying an additional 2,219,849 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Richtech Robotics by 738.8% in the first quarter. Bank of America Corp DE now owns 1,847,776 shares of the company's stock worth $3,862,000 after buying an additional 1,627,482 shares in the last quarter. Geode Capital Management LLC boosted its position in Richtech Robotics by 73.5% during the fourth quarter. Geode Capital Management LLC now owns 3,586,863 shares of the company's stock worth $11,589,000 after acquiring an additional 1,519,613 shares during the last quarter. Finally, UBS Group AG grew its stake in Richtech Robotics by 412.2% during the 4th quarter. UBS Group AG now owns 1,804,574 shares of the company's stock valued at $5,829,000 after acquiring an additional 1,452,236 shares in the last quarter. 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.

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