Richtech Robotics (NASDAQ:RR) Shares Down 7.4% - Here's Why

Key Points

• Shares of Richtech Robotics fell 7.4% to about $4.05 on Friday (intraday low $4.08), with roughly 4.61 million shares traded — about 86% below its average daily volume.
• Analysts are mixed: the consensus rating is "Hold" with an average price target of $4.50 (ranging from HC Wainwright's Buy with a $6 target to sell ratings from Weiss and Wall Street Zen); the company beat the quarter on EPS and revenue but remains unprofitable with a -366% net margin and negative return on equity.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) shares dropped 7.4% on Friday . The company traded as low as $4.08 and last traded at $4.0450. Approximately 4,612,577 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 33,592,113 shares. The stock had previously closed at $4.37.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. HC Wainwright restated a "buy" rating and issued a $6.00 price objective on shares of Richtech Robotics in a report on Wednesday. Weiss Ratings reissued a "sell (e+)" rating on shares of Richtech Robotics in a research report on Monday, December 22nd. Finally, Wall Street Zen lowered shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Richtech Robotics presently has a consensus rating of "Hold" and an average price target of $4.50.

Richtech Robotics Trading Down 1.5%

The firm has a market cap of $645.28 million, a price-to-earnings ratio of -30.68 and a beta of -3.63. The firm has a 50 day moving average price of $3.68 and a 200-day moving average price of $3.59.

Richtech Robotics (NASDAQ:RR - Get Free Report) last announced its earnings results on Tuesday, January 20th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. Richtech Robotics had a negative net margin of 366.21% and a negative return on equity of 23.85%. The firm had revenue of $1.44 million during the quarter, compared to the consensus estimate of $1.31 million.

Institutional Trading of Richtech Robotics

Hedge funds and other institutional investors have recently modified their holdings of the business. Concurrent Investment Advisors LLC raised its stake in Richtech Robotics by 22.4% during the third quarter. Concurrent Investment Advisors LLC now owns 15,542 shares of the company's stock valued at $67,000 after buying an additional 2,842 shares in the last quarter. DNB Asset Management AS raised its stake in shares of Richtech Robotics by 9.9% during the third quarter. DNB Asset Management AS now owns 43,858 shares of the company's stock valued at $188,000 after purchasing an additional 3,939 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Richtech Robotics by 14.3% in the third quarter. Two Sigma Investments LP now owns 35,473 shares of the company's stock valued at $152,000 after acquiring an additional 4,429 shares in the last quarter. Delos Wealth Advisors LLC increased its position in shares of Richtech Robotics by 30.0% during the 3rd quarter. Delos Wealth Advisors LLC now owns 19,500 shares of the company's stock valued at $84,000 after purchasing an additional 4,500 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Richtech Robotics in the third quarter worth about $38,000. 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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