Richtech Robotics (NASDAQ:RR) Upgraded to Hold at Wall Street Zen

Key Points

• Richtech Robotics has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a shift in analysts' outlook on the stock.
• Shares of Richtech Robotics are currently trading at $3.05, with a significant 12-month price range between $0.52 and $5.20, highlighting the stock's volatility.
• Institutional investors have increased their stakes considerably, with Geode Capital Management acquiring an additional 824,253 shares, reflecting growing interest in the company.

Wall Street Zen upgraded shares of Richtech Robotics (NASDAQ:RR - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Richtech Robotics Stock Down 1.6%

NASDAQ:RR traded down $0.05 on Friday, reaching $3.05. The company's stock had a trading volume of 50,565,408 shares, compared to its average volume of 25,589,448. The business's 50-day moving average price is $2.10 and its two-hundred day moving average price is $2.08. Richtech Robotics has a 1-year low of $0.52 and a 1-year high of $5.20.

Richtech Robotics (NASDAQ:RR - Get Free Report) last posted 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). The company had revenue of $1.18 million during the quarter, compared to analysts' expectations of $1.42 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Insider Transactions at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $3.01, for a total transaction of $301,000.00. Following the sale, the chief operating officer owned 1,100,000 shares in the company, valued at approximately $3,311,000. This represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 41.30% of the company's stock.

Institutional Trading of Richtech Robotics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Richtech Robotics by 128.9% in the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company's stock valued at $2,854,000 after buying an additional 824,253 shares during the period. Bank of America Corp DE increased its stake in shares of Richtech Robotics by 3,231.2% during the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company's stock worth $2,435,000 after purchasing an additional 1,211,256 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Richtech Robotics by 4.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company's stock worth $1,682,000 after purchasing an additional 39,249 shares during the period. Jane Street Group LLC grew its position in Richtech Robotics by 113.0% during the fourth quarter. Jane Street Group LLC now owns 442,248 shares of the company's stock worth $1,194,000 after buying an additional 234,578 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Richtech Robotics during the first quarter worth approximately $703,000. 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.