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

Richtech Robotics logo with Business Services background

Key Points

  • Richtech Robotics shares experienced a significant downturn, closing at $4.85 after opening at $5.31, marking a 15.3% decline.
  • Analyst ratings for the stock have been mixed, with HC Wainwright issuing a "buy" rating and raising the price target to $6.00, while Wall Street Zen and Weiss Ratings downgraded it to "sell."
  • Institutional investors have notably increased their stakes, with Geode Capital Management raising their holdings by 128.9% during the second quarter, now owning 1.46 million shares.
  • MarketBeat previews top five stocks to own in November.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $5.63, but opened at $5.31. Richtech Robotics shares last traded at $4.85, with a volume of 11,055,327 shares trading hands.

Analyst Ratings Changes

Several analysts have recently commented on the company. HC Wainwright raised their price target on Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a report on Friday, September 19th. Wall Street Zen downgraded Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $4.50.

View Our Latest Stock Report on Richtech Robotics

Richtech Robotics Stock Down 15.3%

The firm has a market capitalization of $714.99 million, a price-to-earnings ratio of -28.06 and a beta of -4.14. The business has a 50-day moving average of $4.08 and a two-hundred day moving average of $2.75.

Richtech Robotics (NASDAQ:RR - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, hitting analysts' consensus estimates 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 the consensus estimate of $1.42 million.

Insiders Place Their Bets

In related news, COO Phil Zheng sold 100,000 shares of Richtech Robotics 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 sale, the chief operating officer directly owned 1,000,000 shares of the company's stock, valued at $5,110,000. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Richtech Robotics

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings 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 valued at $2,854,000 after purchasing an additional 824,253 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Richtech Robotics by 3,231.2% in the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company's stock valued at $2,435,000 after acquiring an additional 1,211,256 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Richtech Robotics by 4.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company's stock valued at $1,682,000 after acquiring an additional 39,249 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Richtech Robotics in the first quarter valued at approximately $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Richtech Robotics in the second quarter valued at approximately $526,000. 0.01% of the stock is owned by institutional investors and hedge funds.

About Richtech Robotics

(Get Free Report)

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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