Richtech Robotics (NASDAQ:RR) Trading 7.9% Higher - Time to Buy?

Key Points

• Shares of Richtech Robotics jumped 7.9% to $2.77 on Tuesday, trading as high as $2.78 on volume of 3.78 million shares—about an 82% drop from its average session volume of 21.47 million.
• Analyst views are mixed: HC Wainwright reiterates a Buy with a $6.00 target while Wall Street Zen and Weiss Ratings have sell calls, leaving a consensus rating of Hold and an average price target of $6.00.
• Insider Matthew G. Casella recently sold 12,500 shares though insiders collectively still own 19.79% of the company, and several large institutions (Vanguard, State Street, Geode, UBS, Bank of America) materially increased their stakes.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) traded up 7.9% on Tuesday . The company traded as high as $2.78 and last traded at $2.7730. 3,779,118 shares were traded during mid-day trading, a decline of 82% from the average session volume of 21,465,391 shares. The stock had previously closed at $2.57.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RR shares. Wall Street Zen cut Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Saturday, February 14th. Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a research note on Monday, December 22nd. Finally, HC Wainwright restated a "buy" rating and set a $6.00 price target on shares of Richtech Robotics in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.00.

Richtech Robotics Price Performance

The company has a 50 day moving average price of $2.40 and a 200 day moving average price of $3.58. The firm has a market cap of $545.28 million, a PE ratio of -18.11 and a beta of -2.10.

Insider Transactions at Richtech Robotics

In other Richtech Robotics news, insider Matthew G. Casella sold 12,500 shares of the stock in a transaction 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 at this hyperlink. Insiders own 19.79% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Richtech Robotics by 164.0% in the third quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company's stock worth $19,789,000 after acquiring an additional 2,865,386 shares in the last quarter. State Street Corp raised its position in Richtech Robotics by 99.7% in the fourth quarter. State Street Corp now owns 4,446,247 shares of the company's stock worth $14,361,000 after acquiring an additional 2,219,849 shares in the last quarter. Geode Capital Management LLC raised its position in Richtech Robotics by 73.5% in the fourth quarter. Geode Capital Management LLC now owns 3,586,863 shares of the company's stock worth $11,589,000 after acquiring an additional 1,519,613 shares in the last quarter. UBS Group AG raised its position in Richtech Robotics by 412.2% in the fourth quarter. UBS Group AG now owns 1,804,574 shares of the company's stock worth $5,829,000 after acquiring an additional 1,452,236 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Richtech Robotics by 3,231.2% in the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company's stock worth $2,435,000 after acquiring an additional 1,211,256 shares in the last quarter. 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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