Richtech Robotics (NASDAQ:RR) Sets New 12-Month High - What's Next?

Key Points

• Richtech Robotics (NASDAQ:RR) reached a new 52-week high of $6.02, reflecting a significant increase in trading volume of over 35 million shares.
• Analysts have mixed ratings on the stock, with two giving it a Buy rating and others downgrading to Sell, leading to a current consensus rating of "Hold" and an average target price of $4.50.
• Despite the rising stock price, the company reported a negative net margin of 366.21% and earnings that matched the expected EPS of ($0.04), raising concerns about profitability.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $5.91 and last traded at $6.02, with a volume of 35797131 shares trading hands. The stock had previously closed at $5.16.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RR shares. Wall Street Zen downgraded shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Richtech Robotics in a research report on Saturday, September 27th. Finally, HC Wainwright lifted their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $4.50.

Richtech Robotics Stock Up 19.8%

The stock's 50-day simple moving average is $3.05 and its 200 day simple moving average is $2.41. The firm has a market cap of $926.32 million, a P/E ratio of -36.35 and a beta of -4.14.

Richtech Robotics (NASDAQ:RR - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.04) EPS 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 business had revenue of $1.18 million during the quarter, compared to analysts' expectations of $1.42 million.

Insider Buying and Selling at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares in the company, valued at approximately $5,110,000. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 25.70% of the company's stock.

Institutional Investors Weigh In On Richtech Robotics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Richtech Robotics by 128.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company's stock worth $2,854,000 after acquiring an additional 824,253 shares during the last quarter. Bank of America Corp DE grew 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 worth $2,435,000 after purchasing an additional 1,211,256 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $1,682,000 after purchasing an additional 39,249 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Richtech Robotics in the 1st quarter worth about $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Richtech Robotics in the 2nd quarter worth 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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