Richtech Robotics (NASDAQ:RR) Trading Up 7.4% - What's Next?

Key Points

• Richtech Robotics' stock experienced a significant increase of 7.4%, rising to $4.27 after closing at $3.98, with a trading volume of nearly 19 million shares, up 21% from its average.
• Wall Street Zen has downgraded Richtech Robotics from a "hold" to a "sell" rating, while the consensus among analysts remains a "Buy" with a target price of approximately $3.25.
• The company reported a negative return on equity of 23.85% and a net margin of -366.21%, with earnings of $1.18 million, falling short of analysts' expectations of $1.42 million.

Shares of Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) rose 7.4% on Thursday . The stock traded as high as $4.65 and last traded at $4.27. Approximately 18,963,548 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 15,732,580 shares. The stock had previously closed at $3.98.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RR. Wall Street Zen downgraded Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. HC Wainwright raised their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Richtech Robotics currently has a consensus rating of "Buy" and a consensus price target of $4.50.

Richtech Robotics Price Performance

The business's fifty day moving average price is $2.49 and its 200-day moving average price is $2.20. The stock has a market capitalization of $667.01 million, a price-to-earnings ratio of -26.17 and a beta of -4.46.

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

Insider Buying and Selling at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of the firm's stock in a transaction that occurred on 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 owned 1,100,000 shares in the company, valued at $3,311,000. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 41.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Richtech Robotics by 128.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company's stock valued at $2,854,000 after acquiring an additional 824,253 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Richtech Robotics by 3,231.2% in the 2nd 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $1,682,000 after purchasing an additional 39,249 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Richtech Robotics during the first quarter valued at about $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Richtech Robotics during the second quarter worth about $526,000. 0.01% of the stock is 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.