Shares of Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $6.18, but opened at $6.76. Richtech Robotics shares last traded at $6.61, with a volume of 29,951,500 shares trading hands.
Analysts Set New Price Targets
RR has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of Richtech Robotics in a research note on Saturday, September 27th. HC Wainwright upped their price objective on Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a report on Friday, September 19th. Finally, Wall Street Zen downgraded Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $4.50.
Check Out Our Latest Research Report on RR
Richtech Robotics Stock Up 5.1%
The stock has a 50 day moving average of $3.05 and a 200 day moving average of $2.41. The company has a market capitalization of $973.54 million, a price-to-earnings ratio of -38.58 and a beta of -4.14.
Richtech Robotics (NASDAQ:RR - Get Free Report) last issued its quarterly 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 firm had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.42 million.
Insider Buying and Selling at Richtech Robotics
In other news, COO Phil Zheng sold 100,000 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the completion of the sale, the chief operating officer directly owned 1,000,000 shares of the company's stock, valued at $5,110,000. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 25.70% of the company's stock.
Hedge Funds Weigh In On Richtech Robotics
A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Richtech Robotics by 128.9% in the 2nd 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 during the period. Bank of America Corp DE boosted its holdings 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 worth $2,435,000 after acquiring an additional 1,211,256 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Richtech Robotics by 4.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company's stock worth $1,682,000 after purchasing an additional 39,249 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Richtech Robotics during the first quarter valued at about $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Richtech Robotics in the second quarter worth about $526,000. 0.01% of the stock is owned by hedge funds and other institutional investors.
Richtech Robotics Company Profile
(
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.
Further Reading
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