Richtech Robotics (NASDAQ:RR) Stock Price Down 8% - What's Next?

Key Points

• Richtech Robotics' stock price fell by 8% during trading, hitting a low of $5.59, with increased trading volume of approximately 53 million shares.
• Analyst ratings show mixed sentiment, with HC Wainwright increasing its price target to $6.00 and issuing a buy rating, while Weiss Ratings maintains a sell rating.
• Richtech Robotics reported a quarterly revenue of $1.18 million, falling short of the analyst estimates of $1.42 million, resulting in a negative net margin of 366.21%.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) shares were down 8% during trading on Thursday . The stock traded as low as $5.59 and last traded at $5.67. Approximately 53,336,569 shares changed hands during trading, an increase of 157% from the average daily volume of 20,765,629 shares. The stock had previously closed at $6.16.

Analyst Ratings Changes

Several analysts have recently commented on RR shares. HC Wainwright increased their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Wall Street Zen upgraded shares of Richtech Robotics from a "sell" rating to a "hold" rating in a report on Saturday, October 11th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $4.50.

Richtech Robotics Stock Down 8.0%

The company's fifty day simple moving average is $3.79 and its two-hundred day simple moving average is $2.65. The company has a market capitalization of $849.90 million, a price-to-earnings ratio of -33.35 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 the consensus estimate of ($0.04). The company had revenue of $1.18 million for the quarter, compared to analyst estimates of $1.42 million. Richtech Robotics had a negative net margin of 366.21% and a negative return on equity of 23.85%.

Insiders Place Their Bets

In related news, COO Phil Zheng sold 100,000 shares of the firm's stock in a transaction 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 sale, the chief operating officer directly owned 1,000,000 shares in the company, valued at $5,110,000. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 25.70% of the company's stock.

Institutional Investors Weigh In On Richtech Robotics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brookstone Capital Management acquired a new stake in shares of Richtech Robotics during the third quarter worth $46,000. Private Advisor Group LLC acquired a new stake in shares of Richtech Robotics during the first quarter worth $25,000. ProShare Advisors LLC acquired a new stake in shares of Richtech Robotics during the second quarter worth $28,000. Delos Wealth Advisors LLC acquired a new stake in shares of Richtech Robotics during the second quarter worth $29,000. Finally, RiverGlades Family Offices LLC acquired a new stake in shares of Richtech Robotics during the second quarter worth $32,000. 0.01% of the stock is currently owned by institutional investors and hedge funds.

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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