Richtech Robotics (NASDAQ:RR) Stock Price Down 8.2% - Here's Why

Key Points

• 8.2% drop: Richtech Robotics shares fell about 8.2% mid-day to $3.26 (intraday low $3.20) with roughly 15.0 million shares traded, about 30% below average session volume.
• Analysts are mixed: two Buy ratings and one Sell produce a MarketBeat average rating of "Hold" and a consensus target price of $4.50.
• Fundamental pressure and insider moves: the company reported EPS of ($0.04) with revenue of $1.18M (below estimates) and a negative net margin, while COO Phil Zheng sold 100,000 shares, leaving insiders owning 19.79%.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report)'s share price traded down 8.2% during mid-day trading on Thursday . The stock traded as low as $3.20 and last traded at $3.26. 15,007,718 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 21,417,350 shares. The stock had previously closed at $3.55.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RR. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Richtech Robotics in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, October 19th. Finally, HC Wainwright upped their price objective on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Richtech Robotics currently has an average rating of "Hold" and a consensus target price of $4.50.

Richtech Robotics Price Performance

The business's 50 day simple moving average is $4.74 and its 200 day simple moving average is $3.05. The stock has a market cap of $488.64 million, a P/E ratio of -19.18 and a beta of -4.13.

Richtech Robotics (NASDAQ:RR - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.42 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Insiders Place Their Bets

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the company's stock in a transaction 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 sale, the chief operating officer directly owned 1,000,000 shares in the company, valued at $5,110,000. This 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. 19.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Richtech Robotics

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new stake in shares of Richtech Robotics during the third quarter worth $38,000. Sovereign Financial Group Inc. acquired a new position in Richtech Robotics during the 3rd quarter worth about $43,000. Virtue Capital Management LLC acquired a new position in Richtech Robotics during the 3rd quarter worth about $43,000. Rathbones Group PLC bought a new stake in Richtech Robotics during the 3rd quarter worth about $44,000. Finally, Brookstone Capital Management acquired a new stake in Richtech Robotics in the 3rd quarter valued at about $46,000. 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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