Richtech Robotics (NASDAQ:RR) Trading 5.7% Higher - Should You Buy?

Key Points

• Richtech Robotics Inc. shares rose by 5.7% to $3.41, with a significant trading volume of 26.8 million shares, surpassing the average volume of nearly 15 million.
• Analysts have downgraded the stock from a "hold" to a "sell" rating, while the consensus rating remains a "Buy" with a target price of $3.25.
• Insider reports indicate that COO Phil Zheng sold 100,000 shares at $3.01, reducing his overall stake in the company by 8.33%.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report)'s share price rose 5.7% during mid-day trading on Friday . The stock traded as high as $3.49 and last traded at $3.41. Approximately 26,800,020 shares traded hands during mid-day trading, an increase of 79% from the average daily volume of 14,933,622 shares. The stock had previously closed at $3.22.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Richtech Robotics from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $3.25.

Richtech Robotics Trading Up 2.8%

The firm's fifty day moving average price is $2.39 and its 200-day moving average price is $2.16.

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 company had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.42 million.

Insiders Place Their Bets

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $3.01, for a total value of $301,000.00. Following the completion of the sale, the chief operating officer directly owned 1,100,000 shares of the company's stock, valued at approximately $3,311,000. This represents a 8.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 41.30% of the company's stock.

Hedge Funds Weigh In On Richtech Robotics

A number of large investors have recently made changes to their positions in RR. Private Advisor Group LLC acquired a new position in shares of Richtech Robotics in the 1st quarter valued at about $25,000. ProShare Advisors LLC bought a new stake in shares of Richtech Robotics in the second quarter valued at approximately $28,000. SeaCrest Wealth Management LLC acquired a new position in Richtech Robotics during the first quarter worth $29,000. Delos Wealth Advisors LLC acquired a new stake in shares of Richtech Robotics in the second quarter valued at $29,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Richtech Robotics in the fourth quarter valued at $31,000. Institutional investors and hedge funds 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.