Richtech Robotics (NASDAQ:RR) Stock Price Down 3.5% - Here's What Happened

Key Points

• Richtech Robotics' stock price fell by 3.5%, trading between $5.86 and $5.87, with a trading volume significantly higher than average at 36,519,795 shares.
• Analysts are divided on the stock, with Wall Street Zen downgrading its rating from "hold" to "sell", while HC Wainwright has raised its target price and maintains a "buy" rating.
• Richtech Robotics reported a significant net margin loss of 366.21% for the last quarter, along with revenues of $1.18 million, missing the consensus estimate of $1.42 million.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) traded down 3.5% during trading on Monday . The company traded as low as $5.86 and last traded at $5.87. 36,519,795 shares changed hands during trading, an increase of 71% from the average session volume of 21,302,980 shares. The stock had previously closed at $6.08.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, October 19th. Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. Finally, HC Wainwright raised their target price 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. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Richtech Robotics has a consensus rating of "Hold" and an average price target of $4.50.

Richtech Robotics Stock Down 3.5%

The stock's 50 day moving average is $4.28 and its 200-day moving average is $2.83. The company has a market cap of $879.85 million, a PE ratio of -34.53 and a beta of -4.14.

Richtech Robotics (NASDAQ:RR - Get Free Report) last posted its 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 net margin of 366.21% and a negative return on equity of 23.85%. The firm had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.42 million.

Insider Activity

In other news, COO Phil Zheng sold 100,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 1,000,000 shares of the company's stock, valued at $5,110,000. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC bought a new stake in shares of Richtech Robotics during the 1st quarter worth approximately $25,000. ProShare Advisors LLC bought a new stake in shares of Richtech Robotics during the 2nd quarter worth approximately $28,000. Delos Wealth Advisors LLC bought a new stake in shares of Richtech Robotics during the 2nd quarter worth approximately $29,000. RiverGlades Family Offices LLC bought a new stake in shares of Richtech Robotics during the 2nd quarter worth approximately $32,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Richtech Robotics during the 2nd quarter valued at $33,000. 0.01% of the stock is owned by institutional investors.

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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