Shares of Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) rose 12.2% during mid-day trading on Friday . The company traded as high as $6.14 and last traded at $6.08. Approximately 35,462,046 shares changed hands during trading, an increase of 67% from the average daily volume of 21,231,225 shares. The stock had previously closed at $5.42.
Analysts Set New Price Targets
RR has been the subject of a number of research analyst reports. HC Wainwright upped their price objective on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Wall Street Zen cut shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, October 19th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Richtech Robotics in a research 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 company. According to data from MarketBeat.com, Richtech Robotics has an average rating of "Hold" and a consensus target price of $4.50.
Check Out Our Latest Report on Richtech Robotics
Richtech Robotics Trading Up 12.2%
The company's 50-day simple moving average is $4.20 and its 200-day simple moving average is $2.79. The stock has a market capitalization of $911.33 million, a price-to-earnings ratio of -35.76 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 (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.42 million.
Insider Transactions at Richtech Robotics
In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 1,000,000 shares in the company, valued at approximately $5,110,000. This represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 25.70% of the company's stock.
Hedge Funds Weigh In On Richtech Robotics
Several institutional investors and hedge funds have recently added to or reduced their stakes in RR. Private Advisor Group LLC acquired a new position in Richtech Robotics in the 1st quarter valued at approximately $25,000. ProShare Advisors LLC bought a new stake in shares of Richtech Robotics in the 2nd quarter valued at $28,000. Delos Wealth Advisors LLC bought a new stake in shares of Richtech Robotics in the 2nd quarter valued at $29,000. RiverGlades Family Offices LLC bought a new stake in shares of Richtech Robotics in the 2nd quarter valued at $32,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Richtech Robotics in the 2nd quarter valued at $33,000. 0.01% of the stock is currently owned by institutional investors and hedge funds.
About Richtech Robotics
(
Get Free Report)
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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