Richtech Robotics (NASDAQ:RR) Sees Strong Trading Volume - Should You Buy?

Key Points

• Richtech Robotics stock experienced a significant increase in trading volume, with 30.8 million shares traded on Thursday, a 74% increase from the previous day.
• Wall Street analysts have varying opinions on the stock, with HC Wainwright raising its price target to $6.00 while others, like Wall Street Zen, downgraded it to a "sell" rating.
• Recent insider trading saw COO Phil Zheng sell 100,000 shares at an average price of $5.11, reducing his ownership by 9.09% in the company.

Shares of Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) saw strong trading volume on Thursday . 30,797,627 shares were traded during trading, an increase of 74% from the previous session's volume of 17,744,846 shares.The stock last traded at $5.11 and had previously closed at $4.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. HC Wainwright increased their price target on Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Wall Street Zen downgraded Richtech Robotics from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $4.50.

Richtech Robotics Stock Performance

The company has a 50 day moving average of $2.90 and a two-hundred day moving average of $2.36. The stock has a market capitalization of $772.68 million, a PE ratio of -30.09 and a beta of -4.17.

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

Insiders Place Their Bets

In related news, COO Phil Zheng sold 100,000 shares of the business's 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 transaction, the chief operating officer directly owned 1,000,000 shares in the company, valued at $5,110,000. The trade was a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 25.70% of the stock is currently owned by company insiders.

Institutional Trading of Richtech Robotics

Several large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new stake in Richtech Robotics during the 4th quarter valued at about $31,000. DNB Asset Management AS lifted its holdings in shares of Richtech Robotics by 44.0% in the 2nd quarter. DNB Asset Management AS now owns 39,919 shares of the company's stock valued at $78,000 after buying an additional 12,204 shares during the period. Private Advisor Group LLC acquired a new position in shares of Richtech Robotics in the 1st quarter valued at about $25,000. ProShare Advisors LLC acquired a new position in shares of Richtech Robotics in the 2nd quarter valued at about $28,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Richtech Robotics in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors 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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