Richtech Robotics' (RR) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Richtech Robotics received a "sell (e+)" rating from Weiss Ratings, signaling continued caution for investors interested in the stock.
• The average price target for Richtech Robotics is currently set at $4.50, with two analysts rating the stock as a buy and one issuing a sell rating.
• Insider activity saw COO Phil Zheng sell 100,000 shares at an average price of $5.11, indicating a 9.09% decrease in his ownership stake.

Richtech Robotics (NASDAQ:RR - Get Free Report)'s stock had its "sell (e+)" rating reiterated by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued reports about the company. HC Wainwright increased their price target on Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Wall Street Zen lowered Richtech Robotics from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $4.50.

Richtech Robotics Stock Performance

Richtech Robotics stock opened at $6.81 on Wednesday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -40.06 and a beta of -4.14. Richtech Robotics has a 52-week low of $0.52 and a 52-week high of $7.43. The stock's 50 day moving average price is $3.34 and its two-hundred day moving average price is $2.51.

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). 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 for the quarter, compared to analysts' expectations of $1.42 million.

Insider Buying and Selling at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of the company'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 sale, the chief operating officer directly owned 1,000,000 shares in the company, valued at $5,110,000. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 25.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Richtech Robotics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC bought a new stake in shares of Richtech Robotics during the fourth quarter valued at about $31,000. DNB Asset Management AS increased its position in shares of Richtech Robotics by 44.0% during the second quarter. DNB Asset Management AS now owns 39,919 shares of the company's stock valued at $78,000 after buying an additional 12,204 shares during the period. Private Advisor Group LLC bought a new stake in shares of Richtech Robotics during the first quarter valued at about $25,000. ProShare Advisors LLC bought a new stake in shares of Richtech Robotics during the second quarter valued at about $28,000. Finally, WealthPlan Investment Management LLC increased its position in shares of Richtech Robotics by 11.1% during the second quarter. WealthPlan Investment Management LLC now owns 144,313 shares of the company's stock valued at $281,000 after buying an additional 14,450 shares during the period. 0.01% of the stock is currently owned by 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.

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