Richtech Robotics (NASDAQ:RR) Stock Price Up 19.8% - Time to Buy?

Key Points

• Richtech Robotics Inc. (NASDAQ:RR) saw a significant stock price increase of 19.8%, trading as high as $6.30 during mid-day on Friday, up from a previous close of $5.16.
• Research analysts have mixed views on the stock, with Weiss Ratings downgrading it to a "sell" and HC Wainwright upgrading their price target to $6.00 with a "buy" rating.
• Insider activity includes COO Phil Zheng selling 100,000 shares for approximately $511,000, reducing his stake in the company by 9.09%.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) was up 19.8% during mid-day trading on Friday . The company traded as high as $6.30 and last traded at $6.18. Approximately 101,572,309 shares traded hands during trading, an increase of 455% from the average daily volume of 18,313,416 shares. The stock had previously closed at $5.16.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RR shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Richtech Robotics in a report on Saturday, September 27th. Wall Street Zen cut shares of Richtech Robotics from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. Finally, HC Wainwright lifted their price objective on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Richtech Robotics has a consensus rating of "Hold" and an average target price of $4.50.

Richtech Robotics Trading Up 19.8%

The company's 50 day moving average is $3.05 and its 200-day moving average is $2.41. The company has a market capitalization of $926.34 million, a P/E ratio of -36.35 and a beta of -4.14.

Richtech Robotics (NASDAQ:RR - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $1.18 million during 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 other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were 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 directly owned 1,000,000 shares in the company, valued at approximately $5,110,000. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 25.70% of the company's stock.

Institutional Trading of Richtech Robotics

A number of large investors have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new position in shares of Richtech Robotics in the fourth quarter worth approximately $31,000. Private Advisor Group LLC purchased a new position in shares of Richtech Robotics in the first quarter worth approximately $25,000. ProShare Advisors LLC purchased a new position in shares of Richtech Robotics in the second quarter worth approximately $28,000. SeaCrest Wealth Management LLC purchased a new position in shares of Richtech Robotics in the first quarter worth approximately $29,000. Finally, Delos Wealth Advisors LLC purchased a new position in shares of Richtech Robotics in the second quarter worth approximately $29,000. 0.01% of the stock is currently owned by institutional investors.

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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