Richtech Robotics (NASDAQ:RR) Shares Down 3.5% - Should You Sell?

Key Points

• Richtech Robotics Inc. (NASDAQ:RR) saw its share price decline by 3.5% during mid-day trading, with a notable trading volume increase of 219% compared to its average.
• Analysts have mixed opinions on the stock; Weiss Ratings issued a "sell" rating while HC Wainwright increased their price target and assigned a "buy" rating.
• The company reported quarterly earnings of ($0.04) per share, aligning with consensus estimates, but fell short on revenue expectations with $1.18 million reported versus the anticipated $1.42 million.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report)'s share price was down 3.5% during mid-day trading on Wednesday . The company traded as low as $6.55 and last traded at $6.81. Approximately 61,195,716 shares traded hands during mid-day trading, an increase of 219% from the average daily volume of 19,213,555 shares. The stock had previously closed at $7.06.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RR. Weiss Ratings reiterated a "sell (e+)" rating on shares of Richtech Robotics in a research report on Wednesday. HC Wainwright raised their price objective on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Finally, Wall Street Zen cut shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.50.

Richtech Robotics Stock Performance

The firm has a 50 day simple moving average of $3.24 and a two-hundred day simple moving average of $2.48. The firm has a market capitalization of $1.02 billion, a P/E ratio of -40.06 and a beta of -4.14.

Richtech Robotics (NASDAQ:RR - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, meeting 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 for the quarter, compared to analysts' expectations of $1.42 million.

Insiders Place Their Bets

In other news, COO Phil Zheng sold 100,000 shares of the business's stock in a transaction dated 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 approximately $5,110,000. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in Richtech Robotics by 128.9% in the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company's stock valued at $2,854,000 after acquiring an additional 824,253 shares during the period. Bank of America Corp DE increased its stake 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 acquiring an additional 1,211,256 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 acquiring an additional 39,249 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Richtech Robotics during the 1st quarter valued at $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Richtech Robotics during the 2nd quarter worth about $526,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

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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