Richtech Robotics (NASDAQ:RR) Stock Price Up 8.9% - Still a Buy?

Key Points

• RR stock jumped 8.9% in mid-day trading to a high of $2.28 (last $2.09) on roughly 11.87 million shares, about 57% above average volume, indicating heightened trading activity.
• Analysts are mixed: HC Wainwright maintains a Buy with a $6 price target while others rate the stock Sell/Hold, leaving a consensus rating of "Hold" and a $6.00 average price target.
• Recent results showed a slight beat (revenue $1.44M vs $1.31M expected; EPS -$0.02 vs -$0.03 expected), but the company remains unprofitable with a negative net margin and ROE and a negative P/E.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) rose 8.9% during mid-day trading on Wednesday . The company traded as high as $2.28 and last traded at $2.09. Approximately 11,874,818 shares were traded during mid-day trading, an increase of 57% from the average daily volume of 7,581,996 shares. The stock had previously closed at $1.92.

Analysts Set New Price Targets

RR has been the subject of a number of research analyst reports. Wall Street Zen cut Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Saturday, February 14th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Richtech Robotics in a research report on Monday, December 22nd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $6.00 price objective on shares of Richtech Robotics in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Richtech Robotics currently has an average rating of "Hold" and a consensus price target of $6.00.

Richtech Robotics Stock Performance

The business has a 50-day simple moving average of $2.60 and a two-hundred day simple moving average of $3.72. The company has a market capitalization of $449.56 million, a price-to-earnings ratio of -14.93 and a beta of -2.10.

Richtech Robotics (NASDAQ:RR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 20th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. Richtech Robotics had a negative return on equity of 10.68% and a negative net margin of 417.41%.The company had revenue of $1.44 million during the quarter, compared to analysts' expectations of $1.31 million.

Insider Activity at Richtech Robotics

In other news, insider Matthew G. Casella sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $2.68, for a total value of $33,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.79% of the stock is owned by corporate insiders.

Institutional Trading of Richtech Robotics

Several hedge funds have recently modified their holdings of RR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Richtech Robotics in the 1st quarter valued at approximately $1,630,000. Goldman Sachs Group Inc. acquired a new stake in shares of Richtech Robotics in the 1st quarter valued at approximately $459,000. Geode Capital Management LLC lifted its holdings in shares of Richtech Robotics by 128.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company's stock valued at $2,854,000 after buying an additional 824,253 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Richtech Robotics by 71.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 78,489 shares of the company's stock valued at $153,000 after buying an additional 32,684 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in shares of Richtech Robotics in the 2nd quarter valued at approximately $95,000. 0.01% of the stock is owned by institutional investors and hedge funds.

Richtech Robotics Company Profile

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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