Richtech Robotics (RR) Expected to Announce Quarterly Earnings on Tuesday

Key Points

• Richtech Robotics is set to announce its quarterly earnings on Tuesday, November 11th, with analysts predicting a loss of ($0.03) per share and revenues of $1.349 million.
• As of the latest trading session, Richtech Robotics' shares declined to $4.09, with a market capitalization of $612.30 million and negative performance metrics, including a price-to-earnings ratio of -24.20.
• Recent insider trading showed COO Phil Zheng sold 100,000 shares at an average price of $5.11, representing a 9.09% reduction in their ownership stake.

Richtech Robotics (NASDAQ:RR - Get Free Report) is anticipated to release its results before the market opens on Tuesday, November 11th. Analysts expect Richtech Robotics to post earnings of ($0.03) per share and revenue of $1.3490 million for the quarter.

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

Richtech Robotics Stock Performance

RR traded down $0.36 during trading on Tuesday, hitting $4.09. 12,134,793 shares of the stock were exchanged, compared to its average volume of 21,445,492. The firm has a 50 day simple moving average of $4.63 and a 200 day simple moving average of $2.97. The firm has a market cap of $612.30 million, a price-to-earnings ratio of -24.20 and a beta of -4.14. Richtech Robotics has a 1 year low of $0.52 and a 1 year high of $7.43.

Insider Activity at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of the firm's stock in a transaction dated 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 owned 1,000,000 shares of the company's stock, valued at $5,110,000. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 19.79% of the company's stock.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new stake in Richtech Robotics in the 2nd quarter valued at approximately $47,000. Invesco Ltd. purchased a new stake in Richtech Robotics in the 2nd quarter valued at approximately $71,000. New York State Common Retirement Fund purchased a new stake in Richtech Robotics in the 2nd quarter valued at approximately $95,000. JPMorgan Chase & Co. boosted its holdings in Richtech Robotics by 71.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 78,489 shares of the company's stock valued at $153,000 after purchasing an additional 32,684 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in Richtech Robotics in the 1st quarter valued at approximately $459,000. Hedge funds and other institutional investors own 0.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a report on Wednesday, October 8th. HC Wainwright raised their price objective on Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Finally, Wall Street Zen downgraded Richtech Robotics from a "hold" rating to a "sell" rating in a report on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $4.50.

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.

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