Richtech Robotics (NASDAQ:RR) Shares Up 11% - Still a Buy?

Key Points

• Richtech Robotics Inc. shares surged 11% to $4.76, significantly above its previous close of $4.29, with trading volume increasing by 170%.
• Despite the stock's rise, Wall Street Zen downgraded Richtech Robotics from a "hold" to a "sell" rating, while HC Wainwright raised its target price to $6.00 with a "buy" rating.
• The company reported a quarterly revenue of $1.18 million, slightly below analysts' expectations, contributing to a negative return on equity of 23.85%.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report)'s stock price shot up 11% during mid-day trading on Wednesday . The company traded as high as $4.81 and last traded at $4.76. 47,753,563 shares were traded during trading, an increase of 170% from the average session volume of 17,681,799 shares. The stock had previously closed at $4.29.

Analyst Upgrades and Downgrades

RR has been the topic of a number of research analyst reports. Wall Street Zen lowered Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. HC Wainwright upped their target price on Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $4.50.

Richtech Robotics Trading Up 11.0%

The business has a fifty day moving average price of $2.85 and a 200-day moving average price of $2.34. The stock has a market capitalization of $713.48 million, a PE ratio of -28.00 and a beta of -4.46.

Richtech Robotics (NASDAQ:RR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.04) earnings per share (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 firm had revenue of $1.18 million during the quarter, compared to analysts' expectations of $1.42 million.

Insider Activity

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

Institutional Investors Weigh In On Richtech Robotics

Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in Richtech Robotics during the 1st quarter valued at about $25,000. ProShare Advisors LLC purchased a new stake in Richtech Robotics during the 2nd quarter valued at about $28,000. SeaCrest Wealth Management LLC purchased a new stake in Richtech Robotics during the 1st quarter valued at about $29,000. Delos Wealth Advisors LLC purchased a new stake in Richtech Robotics during the 2nd quarter valued at about $29,000. Finally, Citadel Advisors LLC purchased a new stake in Richtech Robotics during the 4th quarter valued at about $31,000. 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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