Richtech Robotics (NASDAQ:RR) Trading Up 7.1% - What's Next?

Key Points

• Richtech Robotics' stock rose 7.1% on Thursday, reaching a high of $5.54, with trading volume increasing by 26% compared to its average.
• Analysts are divided on the stock's outlook; HC Wainwright has raised its price target to $6.00 while Wall Street Zen downgraded it to a "sell," leading to a consensus rating of "Hold" with an average price target of $4.50.
• In recent trading, COO Phil Zheng sold 100,000 shares at $5.11, reducing his position by 9.09%, while institutional investors like Goldman Sachs have increased their stakes in Richtech Robotics.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report)'s stock price was up 7.1% on Thursday . The company traded as high as $5.54 and last traded at $5.42. Approximately 26,690,986 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 21,156,396 shares. The stock had previously closed at $5.06.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RR shares. HC Wainwright raised their price target on Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Wall Street Zen downgraded Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Richtech Robotics in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $4.50.

Richtech Robotics Stock Performance

The stock has a market cap of $812.40 million, a PE ratio of -31.88 and a beta of -4.14. The firm has a fifty day moving average price of $4.13 and a 200 day moving average price of $2.77.

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

Insider Buying and Selling at Richtech Robotics

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in Richtech Robotics in the first quarter valued at approximately $459,000. Charles Schwab Investment Management Inc. purchased a new stake in Richtech Robotics in the first quarter valued at approximately $40,000. Bogart Wealth LLC purchased a new stake in Richtech Robotics in the second quarter valued at approximately $117,000. Vontobel Holding Ltd. purchased a new stake in Richtech Robotics in the second quarter valued at approximately $143,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Richtech Robotics in the first quarter valued at approximately $51,000. 0.01% of the stock is currently owned by institutional investors and hedge funds.

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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