Richtech Robotics (NASDAQ:RR) Stock Price Down 3.9% - What's Next?

Key Points

• Shares of Richtech Robotics (NASDAQ:RR) decreased by 3.9%, trading at approximately $6.79 with a trading volume decline of 24% from the average.
• Wall Street analysts have mixed opinions, with one firm lowering its rating to "sell", while another increased its price target to $6.00 and rated it a "buy."
• In a recent earnings report, Richtech Robotics reported a revenue of $1.18 million, falling short of estimates, and has a negative return on equity of 23.85%.

Shares of Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) traded down 3.9% during trading on Wednesday . The company traded as low as $6.72 and last traded at $6.79. 14,456,332 shares changed hands during trading, a decline of 24% from the average session volume of 18,928,412 shares. The stock had previously closed at $7.06.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RR shares. Wall Street Zen lowered Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Richtech Robotics in a research note on Wednesday. Finally, HC Wainwright lifted their price objective 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 and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.50.

Richtech Robotics Price Performance

The firm has a market capitalization of $1.04 billion, a P/E ratio of -40.73 and a beta of -4.14. The stock has a fifty day simple moving average of $3.24 and a two-hundred day simple moving average of $2.48.

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

Insider Activity at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of the business'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 transaction of $511,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 25.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC purchased a new position in shares of Richtech Robotics during the first quarter valued at approximately $25,000. ProShare Advisors LLC purchased a new position in shares of Richtech Robotics during the second quarter valued at approximately $28,000. SeaCrest Wealth Management LLC purchased a new position in shares of Richtech Robotics during the first quarter valued at approximately $29,000. Delos Wealth Advisors LLC purchased a new position in shares of Richtech Robotics during the second quarter valued at approximately $29,000. Finally, Citadel Advisors LLC purchased a new position in shares of Richtech Robotics during the fourth quarter valued at approximately $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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