Richtech Robotics (NASDAQ:RR) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Richtech Robotics experienced a significant spike in trading volume, with over 13 million shares exchanged, though this was a 15% decrease from the previous session.
• Wall Street analysts downgraded the company from a "hold" to a "sell" rating, resulting in a consensus target price of $3.25, despite some analysts still issuing a "buy" rating.
• The company's recent quarterly earnings report revealed a loss of $0.04 per share and revenues of $1.18 million, which fell short of analyst projections.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 13,027,704 shares changed hands during mid-day trading, a decline of 15% from the previous session's volume of 15,300,291 shares.The stock last traded at $3.81 and had previously closed at $3.89.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Richtech Robotics from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $3.25.

Richtech Robotics Trading Up 5.5%

The firm has a market capitalization of $615.15 million, a PE ratio of -23.68 and a beta of -4.49. The business has a fifty day moving average price of $2.31 and a two-hundred day moving average price of $2.14.

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

Insider Buying and Selling at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $3.01, for a total transaction of $301,000.00. Following the completion of the transaction, the chief operating officer directly owned 1,100,000 shares in the company, valued at approximately $3,311,000. This represents a 8.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 41.30% of the company's stock.

Hedge Funds Weigh In On Richtech Robotics

Several hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. acquired a new position in Richtech Robotics during the 2nd quarter worth about $47,000. Delos Wealth Advisors LLC acquired a new stake in Richtech Robotics in the 2nd quarter valued at about $29,000. Bank of America Corp DE raised its position 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 purchasing an additional 1,211,256 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 purchasing an additional 39,249 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Richtech Robotics in the 2nd quarter valued at about $47,000. 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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