Richtech Robotics (NASDAQ:RR) Shares Gap Up - Should You Buy?

Key Points

• Richtech Robotics Inc. shares opened at $3.43, up from a previous close of $3.29, indicating significant trading activity with a volume of 6,715,509 shares.
• Wall Street Zen downgraded Richtech Robotics from a "hold" to a "sell" rating, although analysts maintain a consensus "buy" rating with a price target of $3.25.
• Insider trading activity saw COO Phil Zheng sell 100,000 shares at an average price of $3.01, reducing his ownership stake by 8.33%.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $3.29, but opened at $3.43. Richtech Robotics shares last traded at $3.77, with a volume of 6,715,509 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $3.25.

Richtech Robotics Stock Performance

The business's fifty day moving average is $2.27 and its two-hundred day moving average is $2.12. The company has a market cap of $570.63 million, a P/E ratio of -22.78 and a beta of -4.49.

Richtech Robotics (NASDAQ:RR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.04). Richtech Robotics had a negative net margin of 366.21% and a negative return on equity of 23.85%. The company had revenue of $1.18 million during the quarter, compared to analyst estimates of $1.42 million.

Insider Buying and Selling

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $3.01, for a total transaction of $301,000.00. Following the transaction, the chief operating officer owned 1,100,000 shares of the company's stock, valued at approximately $3,311,000. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 41.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RR. Northern Trust Corp purchased a new position in shares of Richtech Robotics in the 4th quarter worth approximately $297,000. Jane Street Group LLC boosted 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 worth $1,194,000 after purchasing an additional 234,578 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Richtech Robotics in the 4th quarter worth approximately $31,000. Millennium Management LLC acquired a new stake in Richtech Robotics in the 4th quarter worth approximately $198,000. Finally, Two Sigma Investments LP acquired a new stake in Richtech Robotics in the 4th quarter worth approximately $113,000. 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.

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