Richtech Robotics (NASDAQ:RR) Trading Down 4.1% - What's Next?

Key Points

• Richtech Robotics' stock price decreased by 4.1% on Thursday, trading as low as $6.28 and closing at $6.53, with trading volume significantly up by 180%.
• The company has received mixed ratings from analysts, with two assigning a buy rating, one a sell rating, and an average target price of $4.50.
• In a notable insider transaction, COO Phil Zheng sold 100,000 shares for approximately $511,000, lowering his position in the company by 9.09%.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report)'s stock price was down 4.1% during trading on Thursday . The stock traded as low as $6.28 and last traded at $6.53. Approximately 54,347,365 shares were traded during trading, an increase of 180% from the average daily volume of 19,401,371 shares. The stock had previously closed at $6.81.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RR shares. Wall Street Zen downgraded shares of Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. HC Wainwright boosted their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.50.

Richtech Robotics Price Performance

The company's fifty day simple moving average is $3.43 and its two-hundred day simple moving average is $2.53. The stock has a market cap of $978.81 million, a price-to-earnings ratio of -38.41 and a beta of -4.14.

Richtech Robotics (NASDAQ:RR - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, hitting 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 firm had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.42 million.

Insider Activity

In other news, COO Phil Zheng sold 100,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $5.11, for a total value of $511,000.00. Following the completion of the sale, the chief operating officer owned 1,000,000 shares in the company, valued at $5,110,000. This represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 25.70% of the stock is currently owned by insiders.

Institutional Trading of Richtech Robotics

Several institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new stake in shares of Richtech Robotics in the 4th quarter worth $31,000. DNB Asset Management AS grew its stake in shares of Richtech Robotics by 44.0% in the 2nd quarter. DNB Asset Management AS now owns 39,919 shares of the company's stock worth $78,000 after acquiring an additional 12,204 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Richtech Robotics in the 1st quarter worth $25,000. ProShare Advisors LLC bought a new stake in shares of Richtech Robotics in the 2nd quarter worth $28,000. Finally, WealthPlan Investment Management LLC grew its position in Richtech Robotics by 11.1% during the second quarter. WealthPlan Investment Management LLC now owns 144,313 shares of the company's stock valued at $281,000 after buying an additional 14,450 shares during the period. Institutional investors 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.

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