Richtech Robotics (NASDAQ:RR) Shares Gap Up - Time to 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)'s share price gapped up before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RR shares. HC Wainwright increased their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a report on Friday. Wall Street Zen lowered Richtech Robotics from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Richtech Robotics currently has an average rating of "Buy" and a consensus price target of $4.50.

Richtech Robotics Trading Down 0.9%

The stock has a fifty day simple moving average of $2.49 and a 200-day simple moving average of $2.20.

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

Insiders Place Their Bets

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 stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 41.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp acquired a new stake in shares of Richtech Robotics in the fourth quarter valued at approximately $297,000. Citadel Advisors LLC purchased a new position in Richtech Robotics during the 4th quarter worth $31,000. Millennium Management LLC acquired a new position in Richtech Robotics in the fourth quarter valued at $198,000. Two Sigma Investments LP purchased a new stake in shares of Richtech Robotics in the fourth quarter valued at about $113,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Richtech Robotics in the first quarter valued at about $29,000. Institutional investors and hedge funds own 0.01% of the company's stock.

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.