Richtech Robotics (NASDAQ:RR) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Richtech Robotics has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting negative sentiment among analysts regarding the stock's future performance.
• The company reported a net loss of ($0.04) earnings per share, with revenue of $1.18 million, falling short of analyst expectations of $1.42 million.
• COO Phil Zheng recently sold 100,000 shares at an average price of $5.11, resulting in a significant decrease in his ownership position in the company.

Richtech Robotics (NASDAQ:RR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Richtech Robotics in a research report on Wednesday, October 8th. HC Wainwright increased their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.50.

Richtech Robotics Trading Down 4.1%

Richtech Robotics stock opened at $5.44 on Friday. Richtech Robotics has a 12-month low of $0.52 and a 12-month high of $7.43. The firm has a 50-day moving average price of $3.94 and a 200-day moving average price of $2.70. The firm has a market capitalization of $815.42 million, a PE ratio of -32.00 and a beta of -4.14.

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

Insider Buying and Selling

In other news, COO Phil Zheng sold 100,000 shares of Richtech Robotics stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $5.11, for a total transaction of $511,000.00. Following the completion of the transaction, the chief operating officer owned 1,000,000 shares of the company's stock, valued at $5,110,000. The trade was a 9.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 25.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RR. Geode Capital Management LLC grew its holdings in Richtech Robotics by 128.9% in 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 period. Bank of America Corp DE grew its holdings in Richtech Robotics by 3,231.2% in 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. grew its holdings in 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 valued at $1,682,000 after buying an additional 39,249 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Richtech Robotics in the 1st quarter valued at about $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Richtech Robotics in the 2nd quarter valued at about $526,000. Institutional investors and hedge funds 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.

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