Richtech Robotics (NASDAQ:RR) Stock Price Down 3.6% - Time to Sell?

Key Points

• Richtech Robotics shares fell by 3.6% to $1.86, with trading volume down 60% from the average, indicating decreased investor interest.
• HC Wainwright has initiated coverage with a "buy" rating and a target price of $3.50, suggesting potential for future growth.
• The company reported a net loss of ($0.04) EPS, missing estimates, and showed a negative net margin of 281.42%, highlighting financial struggles.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) shares were down 3.6% during trading on Wednesday . The company traded as low as $1.84 and last traded at $1.86. Approximately 3,457,776 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 8,654,716 shares. The stock had previously closed at $1.93.

Analyst Ratings Changes

Separately, HC Wainwright started coverage on Richtech Robotics in a research report on Friday, April 11th. They set a "buy" rating and a $3.50 price objective on the stock.

Richtech Robotics Price Performance

The company has a current ratio of 75.74, a quick ratio of 73.23 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $1.99 and a 200-day simple moving average of $2.13. The firm has a market cap of $209.54 million, a PE ratio of -12.20 and a beta of -4.51.

Richtech Robotics (NASDAQ:RR - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Richtech Robotics had a negative return on equity of 31.58% and a negative net margin of 281.42%. The company had revenue of $1.17 million during the quarter, compared to analysts' expectations of $1.91 million.

Insider Transactions at Richtech Robotics

In related news, COO Phil Zheng sold 105,213 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $2.64, for a total value of $277,762.32. Following the transaction, the chief operating officer directly owned 1,294,787 shares of the company's stock, valued at $3,418,237.68. This represents a 7.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 41.30% of the stock is currently owned by insiders.

Institutional Trading of Richtech Robotics

A number of hedge funds have recently modified their holdings of RR. Geode Capital Management LLC boosted its position in Richtech Robotics by 128.9% during the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company's stock worth $2,854,000 after purchasing an additional 824,253 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Richtech Robotics during the first quarter worth $1,630,000. Jane Street Group LLC lifted its stake in Richtech Robotics by 113.0% in the 4th quarter. Jane Street Group LLC now owns 442,248 shares of the company's stock valued at $1,194,000 after buying an additional 234,578 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Richtech Robotics in the 1st quarter worth about $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Richtech Robotics in the 2nd quarter worth about $526,000. Hedge funds and other institutional investors own 0.01% of the company's stock.

Richtech Robotics Company Profile

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.