Richtech Robotics (NASDAQ:RR) Shares Up 8.4% - Still a Buy?

Key Points

• Richtech Robotics Inc. shares rose by 8.4% during trading, reaching a price of $5.16, with trading volume increasing by 184% compared to the average.
• Analysts have mixed ratings, with one brokerage raising the target price from $3.50 to $6.00 while others have issued a "sell" rating; the consensus rating remains a "Buy" with an average target price of $4.50.
• In a significant move, COO Phil Zheng sold 100,000 shares at an average price of $5.11, reducing his ownership by 9.09% to 1,000,000 shares valued at approximately $5.1 million.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) shares shot up 8.4% during trading on Thursday . The company traded as high as $5.26 and last traded at $5.16. 50,710,949 shares changed hands during trading, an increase of 184% from the average session volume of 17,868,037 shares. The stock had previously closed at $4.76.

Analyst Ratings Changes

Several brokerages recently issued reports on RR. HC Wainwright upped their target price on shares of 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 shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $4.50.

Richtech Robotics Stock Up 8.4%

The company has a market capitalization of $773.43 million, a PE ratio of -30.35 and a beta of -4.17. The company's 50 day moving average is $2.90 and its two-hundred day moving average is $2.36.

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

Insider Activity 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 value of $511,000.00. Following the completion of the sale, the chief operating officer owned 1,000,000 shares in the company, valued at approximately $5,110,000. The trade was a 9.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 25.70% of the company's stock.

Institutional Trading of Richtech Robotics

Several large investors have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new position in shares of Richtech Robotics in the 1st quarter valued at $25,000. ProShare Advisors LLC purchased a new stake in shares of Richtech Robotics during the second quarter worth $28,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Richtech Robotics during the first quarter worth $29,000. Delos Wealth Advisors LLC purchased a new stake in shares of Richtech Robotics in the second quarter valued at about $29,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Richtech Robotics in the fourth quarter valued at about $31,000. 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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