Richtech Robotics (NASDAQ:RR) Stock Price Down 10.4% - Should You Sell?

Key Points

• Richtech Robotics' stock has experienced a significant decline, trading down 10.4% to around $5.26 after previously closing at $5.87.
• Equities analysts maintain a mixed outlook, with two giving a Buy rating and one a Sell rating, resulting in an average price target of $4.50.
• Insider selling occurred when COO Phil Zheng sold 100,000 shares at an average price of $5.11, reducing his ownership by 9.09%.

Shares of Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) traded down 10.4% during trading on Tuesday . The company traded as low as $5.24 and last traded at $5.26. 48,574,418 shares changed hands during trading, an increase of 126% from the average session volume of 21,446,033 shares. The stock had previously closed at $5.87.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. HC Wainwright lifted their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Finally, Wall Street Zen cut shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Richtech Robotics currently has an average rating of "Hold" and an average price target of $4.50.

Richtech Robotics Trading Down 10.4%

The firm's 50-day moving average price is $4.41 and its two-hundred day moving average price is $2.89. The stock has a market cap of $788.44 million, a PE ratio of -30.94 and a beta of -4.14.

Richtech Robotics (NASDAQ:RR - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Richtech Robotics had a negative net margin of 366.21% and a negative return on equity of 23.85%. The firm had revenue of $1.18 million during 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 stock in a transaction that occurred on 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 owned 1,000,000 shares of the company's stock, valued at $5,110,000. This represents 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. 25.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Richtech Robotics

A number of hedge funds and other institutional investors have recently bought and sold shares of RR. Cambridge Investment Research Advisors Inc. purchased a new stake in Richtech Robotics during the first quarter valued at approximately $51,000. NTV Asset Management LLC acquired a new position in Richtech Robotics during the 1st quarter valued at approximately $50,000. Private Advisor Group LLC acquired a new position in Richtech Robotics during the 1st quarter valued at approximately $25,000. Cary Street Partners Financial LLC increased its stake in Richtech Robotics by 76.5% during the 1st quarter. Cary Street Partners Financial LLC now owns 60,000 shares of the company's stock valued at $119,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new position in Richtech Robotics during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 0.01% of the company's stock.

About Richtech Robotics

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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