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

Key Points

• Richtech Robotics shares gapped up prior to trading, opening at $4.24 after closing at $4.09, with a substantial trading volume of 9,624,671 shares.
• Analysts have mixed views on the stock, as HC Wainwright raised their price target to $6.00 while Wall Street Zen downgraded it to "sell," with a current consensus price target of $4.50.
• Insider selling was observed, with COO Phil Zheng offloading 100,000 shares at an average price of $5.11, representing a 9.09% reduction in his holdings.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $4.09, but opened at $4.24. Richtech Robotics shares last traded at $4.03, with a volume of 9,624,671 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. HC Wainwright boosted their price target on Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Wall Street Zen cut Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $4.50.

Richtech Robotics Stock Performance

The stock has a fifty day moving average of $2.72 and a 200 day moving average of $2.29. The company has a market capitalization of $598.81 million, a P/E ratio of -23.44 and a beta of -4.46.

Richtech Robotics (NASDAQ:RR - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.04) EPS 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 company had revenue of $1.18 million for the quarter, compared to analysts' expectations of $1.42 million.

Insider Buying and Selling

In related news, COO Phil Zheng sold 100,000 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $5.11, for a total value of $511,000.00. Following the transaction, the chief operating officer directly owned 1,000,000 shares of the company's stock, valued at approximately $5,110,000. This trade represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 25.70% of the company's stock.

Hedge Funds Weigh In On Richtech Robotics

Several large investors have recently made changes to their positions in RR. Northern Trust Corp purchased a new position in shares of Richtech Robotics during the fourth quarter valued at about $297,000. Citadel Advisors LLC purchased a new position in shares of Richtech Robotics during the fourth quarter valued at about $31,000. Millennium Management LLC purchased a new position in shares of Richtech Robotics during the fourth quarter valued at about $198,000. Two Sigma Investments LP purchased a new position in shares of Richtech Robotics during the fourth quarter valued at about $113,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Richtech Robotics in the 1st quarter valued at about $29,000. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

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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