Richtech Robotics (NASDAQ:RR) Trading 1.3% Higher - Here's Why

Key Points

• Richtech Robotics' stock traded up 1.3% to $5.63 with a trading volume significantly higher than average, indicating increased investor interest.
• HC Wainwright upgraded the stock's price target from $3.50 to $6.00, giving it a "buy" rating, while other firms have issued mixed ratings.
• The company's quarterly earnings showed a loss of ($0.04) EPS, slightly meeting analysts' expectations, but with a negative net margin of 366.21% and revenues below estimates.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report)'s stock price traded up 1.3% during mid-day trading on Tuesday . The company traded as high as $5.97 and last traded at $5.63. 42,895,146 shares traded hands during trading, an increase of 104% from the average session volume of 21,024,422 shares. The stock had previously closed at $5.56.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RR. HC Wainwright lifted their price target on 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 report on Sunday. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Richtech Robotics in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $4.50.

Richtech Robotics Trading Up 1.4%

The firm has a market capitalization of $845.38 million, a P/E ratio of -33.17 and a beta of -4.14. The stock has a 50 day simple moving average of $4.01 and a 200-day simple moving average of $2.73.

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

Insider Activity at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of the firm'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 transaction, the chief operating officer directly owned 1,000,000 shares of the company's stock, valued at approximately $5,110,000. This trade represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 25.70% of the stock is owned by company insiders.

Institutional Trading of Richtech Robotics

Several institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC purchased a new position in Richtech Robotics in the 1st quarter worth approximately $25,000. ProShare Advisors LLC bought a new stake in shares of Richtech Robotics during the second quarter valued at approximately $28,000. Delos Wealth Advisors LLC purchased a new position in shares of Richtech Robotics in the second quarter worth $29,000. RiverGlades Family Offices LLC purchased a new position in shares of Richtech Robotics in the second quarter worth $32,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in Richtech Robotics during the second quarter valued at $33,000. Hedge funds and other institutional investors 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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