Richtech Robotics (NASDAQ:RR) Stock Price Up 9% - Time to Buy?

Key Points

• Richtech Robotics Inc. (NASDAQ:RR) experienced a significant stock price increase of 9%, rising to $6.45 on a trading volume that was 151% higher than its average.
• Analysts have varied opinions on the stock, with HC Wainwright upgrading it to a "buy" rating and setting a price target of $6.00, while Weiss Ratings maintains a "sell" rating.
• The company reported negative financial metrics for their latest quarter, including a revenue of $1.18 million, which fell short of analyst estimates.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) rose 9% on Monday . The stock traded as high as $6.72 and last traded at $6.45. Approximately 49,507,850 shares changed hands during trading, an increase of 151% from the average daily volume of 19,739,990 shares. The stock had previously closed at $5.92.

Analysts Set New Price Targets

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

Richtech Robotics Stock Up 9.0%

The company has a market capitalization of $966.82 million, a price-to-earnings ratio of -37.94 and a beta of -4.14. The stock has a fifty day moving average price of $3.52 and a two-hundred day moving average price of $2.56.

Richtech Robotics (NASDAQ:RR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.04) EPS for the quarter, meeting analysts' consensus estimates of ($0.04). The business had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.42 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Insider Activity at Richtech Robotics

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the business's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $5.11, for a total transaction of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares in the company, valued at $5,110,000. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 25.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Private Advisor Group LLC acquired a new stake in Richtech Robotics during the first quarter valued at approximately $25,000. ProShare Advisors LLC acquired a new stake in Richtech Robotics during the second quarter valued at approximately $28,000. Delos Wealth Advisors LLC acquired a new stake in Richtech Robotics during the second quarter valued at approximately $29,000. RiverGlades Family Offices LLC acquired a new stake in Richtech Robotics during the second quarter valued at approximately $32,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in Richtech Robotics during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 0.01% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.