Richtech Robotics (NASDAQ:RR) Stock Price Down 7.9% - Here's Why

Key Points

• Richtech Robotics' stock fell by 7.9% during trading, reaching a low of $4.34, with a volume increase of 9% compared to its average daily trading volume.
• Analyst ratings vary, with HC Wainwright giving the stock a "buy" rating and raising the price target to $6.00, while Weiss Ratings and Wall Street Zen issued "sell" ratings.
• The company reported a revenue of $1.18 million in its latest earnings announcement, missing analysts' expectations of $1.42 million, and also revealed a negative return on equity of 23.85%.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report)'s stock price dropped 7.9% during mid-day trading on Monday . The stock traded as low as $4.34 and last traded at $4.44. Approximately 23,387,375 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 21,491,813 shares. The stock had previously closed at $4.82.

Analyst Upgrades and Downgrades

RR has been the subject of several research analyst reports. HC Wainwright raised 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. Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, October 19th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.50.

Richtech Robotics Stock Down 7.9%

The firm has a 50-day moving average of $4.59 and a two-hundred day moving average of $2.96. The company has a market capitalization of $665.53 million, a PE ratio of -26.12 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, meeting the consensus estimate of ($0.04). The company had revenue of $1.18 million during the quarter, compared to analysts' expectations of $1.42 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Insider Transactions at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of Richtech Robotics stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $5.11, for a total value of $511,000.00. Following the sale, the chief operating officer owned 1,000,000 shares of the company's stock, valued at approximately $5,110,000. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.79% of the company's stock.

Institutional Investors Weigh In On Richtech Robotics

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtue Capital Management LLC acquired a new stake in Richtech Robotics in the 3rd quarter valued at $43,000. PFG Investments LLC acquired a new stake in Richtech Robotics in the 3rd quarter valued at $324,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Richtech Robotics in the 3rd quarter valued at $65,000. GWN Securities Inc. acquired a new stake in Richtech Robotics in the 3rd quarter valued at $232,000. Finally, Concurrent Investment Advisors LLC grew its stake in Richtech Robotics by 22.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 15,542 shares of the company's stock valued at $67,000 after acquiring an additional 2,842 shares during the period. Institutional investors and hedge funds 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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