Richtech Robotics (NASDAQ:RR) Trading Down 6.5% - Here's Why

Key Points

• Richtech Robotics shares fell by 6.5% to $4.55, with a notable decline in trading volume of 32% compared to the average.
• Analysts have mixed ratings on the stock, with one brokerage downgrading it to "sell" while another raised the price target and rated it a "buy."
• The company's latest earnings report showed a negative EPS of ($0.04) and revenue of $1.18 million, below the consensus estimate of $1.42 million.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) shares fell 6.5% during trading on Wednesday . The stock traded as low as $4.55 and last traded at $4.55. 11,325,351 shares were traded during mid-day trading, a decline of 32% from the average session volume of 16,682,303 shares. The stock had previously closed at $4.87.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RR. Wall Street Zen lowered Richtech Robotics from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. HC Wainwright lifted their price objective on Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $4.50.

Richtech Robotics Price Performance

The company has a market capitalization of $684.25 million, a PE ratio of -27.20 and a beta of -4.46. The company has a 50-day moving average of $2.63 and a two-hundred day moving average of $2.25.

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 the consensus estimate of ($0.04). Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.The business had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.42 million.

Insider Activity at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $3.01, for a total value of $301,000.00. Following the transaction, the chief operating officer directly owned 1,100,000 shares in the company, valued at $3,311,000. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 25.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Richtech Robotics

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Richtech Robotics by 128.9% in the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company's stock worth $2,854,000 after buying an additional 824,253 shares in the last quarter. Bank of America Corp DE lifted its position in shares of 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 buying an additional 1,211,256 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Richtech Robotics by 4.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company's stock worth $1,682,000 after buying an additional 39,249 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Richtech Robotics in the first quarter worth about $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Richtech Robotics in the second quarter worth about $526,000. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

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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