Richtech Robotics (NASDAQ:RR) Shares Up 12.4% - Should You Buy?

Key Points

• Richtech Robotics' stock surged 12.4% on Monday, trading at $6.66, reflecting a significant increase in trading volume of 42% compared to its average session.
• Analysts have mixed opinions on the stock; HC Wainwright upgraded the price target to $6.00 with a "buy" rating, while other firms maintain a "sell" or "hold" rating, resulting in an average target price of $4.50.
• In a recent transaction, the COO sold 100,000 shares at an average price of $5.11, which represented a 9.09% decrease in their position, drawing attention to insider trading activity.

Shares of Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) shot up 12.4% on Monday . The company traded as high as $6.71 and last traded at $6.66. 27,855,063 shares changed hands during trading, an increase of 42% from the average session volume of 19,617,400 shares. The stock had previously closed at $5.92.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RR. 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 note on Friday, September 19th. Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Richtech Robotics from a "sell" rating to a "hold" rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.50.

Richtech Robotics Trading Up 9.2%

The company has a 50-day simple moving average of $3.52 and a 200 day simple moving average of $2.56. The firm has a market cap of $969.06 million, a PE ratio of -38.02 and a beta of -4.14.

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

Insider Buying and Selling at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of Richtech Robotics 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 owned 1,000,000 shares in the company, valued at $5,110,000. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 25.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RR. Private Advisor Group LLC purchased a new position in shares of Richtech Robotics during the 1st quarter valued at approximately $25,000. ProShare Advisors LLC purchased a new position in shares of Richtech Robotics during the 2nd quarter valued at approximately $28,000. Delos Wealth Advisors LLC purchased a new position in shares of Richtech Robotics during the 2nd quarter valued at approximately $29,000. RiverGlades Family Offices LLC purchased a new position in shares of Richtech Robotics during the 2nd quarter valued at approximately $32,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in Richtech Robotics in the 2nd quarter valued at $33,000. 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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