Richtech Robotics (NASDAQ:RR) Rating Increased 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 note released on Saturday.

Richtech Robotics Trading Down 5.2%

Shares of RR stock traded down $0.14 on Friday, reaching $2.54. The company had a trading volume of 19,855,481 shares, compared to its average volume of 27,911,174. The stock has a market cap of $380.72 million, a PE ratio of -14.94 and a beta of -4.46. The company has a 50-day moving average of $2.14 and a 200-day moving average of $2.09. Richtech Robotics has a 12 month low of $0.52 and a 12 month high of $5.20.

Richtech Robotics (NASDAQ:RR - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.04) EPS for the quarter, meeting 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 company had revenue of $1.18 million during the quarter, compared to analysts' expectations of $1.42 million.

Insider Activity at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $3.01, for a total value of $301,000.00. Following the completion of the sale, the chief operating officer owned 1,100,000 shares in the company, valued at $3,311,000. This represents a 8.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 41.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Richtech Robotics

Institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Richtech Robotics in the 1st quarter valued at approximately $51,000. Millennium Management LLC acquired a new position in shares of Richtech Robotics in the 4th quarter valued at approximately $198,000. Citadel Advisors LLC acquired a new position in shares of Richtech Robotics in the 4th quarter valued at approximately $31,000. Jane Street Group LLC raised its position in Richtech Robotics by 113.0% in the 4th quarter. Jane Street Group LLC now owns 442,248 shares of the company's stock valued at $1,194,000 after buying an additional 234,578 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Richtech Robotics in the 4th quarter valued at approximately $113,000. 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.