Richtech Robotics (NASDAQ:RR) Trading Up 6.5% - Still a Buy?

Key Points

• Richtech Robotics Inc. shares rose **6.5%** during trading, reaching a high of **$7.12**, with a trading volume significantly up by **324%** from the average session volume.
• Analysts have mixed opinions on the stock; HC Wainwright rated it a **"buy"** with a target price increase to **$6.00**, while Wall Street Zen and Weiss Ratings have issued **"sell"** ratings.
• The company reported **negative earnings per share of ($0.04)** for the last quarter, with revenue of **$1.18 million**, falling short of the expected **$1.42 million**.

Shares of Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) traded up 6.5% during trading on Monday . The stock traded as high as $7.12 and last traded at $6.58. 79,071,381 shares traded hands during mid-day trading, an increase of 324% from the average session volume of 18,638,732 shares. The stock had previously closed at $6.18.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. HC Wainwright increased their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Wall Street Zen lowered Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Richtech Robotics in a report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Richtech Robotics currently has an average rating of "Hold" and a consensus price target of $4.50.

Richtech Robotics Trading Up 6.5%

The firm has a market cap of $986.30 million, a P/E ratio of -38.70 and a beta of -4.14. The business's fifty day simple moving average is $3.14 and its 200-day simple moving average is $2.44.

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

Insider Buying and Selling at Richtech Robotics

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

Hedge Funds Weigh In On Richtech Robotics

A number of institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new stake in shares of Richtech Robotics during the 1st quarter worth $25,000. ProShare Advisors LLC purchased a new stake in Richtech Robotics during the second quarter valued at about $28,000. SeaCrest Wealth Management LLC bought a new stake in Richtech Robotics during the first quarter worth about $29,000. Delos Wealth Advisors LLC purchased a new position in shares of Richtech Robotics in the 2nd quarter worth about $29,000. Finally, Citadel Advisors LLC purchased a new position in shares of Richtech Robotics in the 4th quarter worth about $31,000. 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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