Richtech Robotics (NASDAQ:RR) Reaches New 12-Month High - Should You Buy?

Key Points

• Richtech Robotics' stock price surged to a new 52-week high of $5.57 during trading, up from a previous close of $4.45, with substantial trading volume of over 75 million shares.
• Analysts are divided on the company's stock; while HC Wainwright increased their price target to $6.00 and rated it a "buy," Wall Street Zen downgraded the stock from "hold" to "sell."
• The company reported earnings of ($0.04) per share, aligning with expectations, while its revenues fell short of the consensus estimate at $1.18 million.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $5.57 and last traded at $5.54, with a volume of 75333742 shares trading hands. The stock had previously closed at $4.45.

Analysts Set New Price Targets

RR has been the topic of a number of recent research reports. Wall Street Zen lowered Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. HC Wainwright lifted their target price on Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research note on Friday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Richtech Robotics currently has an average rating of "Buy" and an average price target of $4.50.

Richtech Robotics Trading Up 24.5%

The company has a 50 day moving average of $2.57 and a 200-day moving average of $2.23. The firm has a market capitalization of $830.39 million, a P/E ratio of -32.59 and a beta of -4.49.

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 (EPS) for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.42 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Insiders Place Their Bets

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of Richtech Robotics stock in a transaction 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 25.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Richtech Robotics

A number of institutional investors have recently modified their holdings of RR. Northern Trust Corp acquired a new position in shares of Richtech Robotics during the 4th quarter worth $297,000. Citadel Advisors LLC acquired a new position in shares of Richtech Robotics during the 4th quarter worth $31,000. Millennium Management LLC acquired a new position in shares of Richtech Robotics during the 4th quarter worth $198,000. Two Sigma Investments LP bought a new stake in Richtech Robotics during the 4th quarter worth $113,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Richtech Robotics during the 1st quarter worth $29,000. 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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