Richtech Robotics Target of Unusually Large Options Trading (NASDAQ:RR)

Key Points

• Richtech Robotics experienced a significant increase in options trading, with investors purchasing 103,847 call options—up 67% from the average daily volume.
• COO Phil Zheng sold 100,000 shares of Richtech Robotics at an average price of $5.11, reducing his ownership by 9.09% while still holding 1,000,000 shares.
• Institutional investors, including Geode Capital Management and Bank of America, have significantly increased their stakes in Richtech Robotics during the 2nd quarter, indicating growing interest in the company's stock.

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) was the target of unusually large options trading on Wednesday. Investors purchased 103,847 call options on the stock. This represents an increase of approximately 67% compared to the average daily volume of 62,290 call options.

Insiders Place Their Bets

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $5.11, for a total value of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares of the company's stock, valued at approximately $5,110,000. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 25.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RR. Geode Capital Management LLC boosted its position 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 raised its stake in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Richtech Robotics by 4.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company's stock valued at $1,682,000 after buying an additional 39,249 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Richtech Robotics during the 1st quarter valued at about $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Richtech Robotics during the 2nd quarter worth approximately $526,000. Institutional investors own 0.01% of the company's stock.

Wall Street Analyst Weigh In

RR has been the topic of a number of research analyst reports. Wall Street Zen upgraded Richtech Robotics from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. Finally, HC Wainwright lifted their price objective on Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Richtech Robotics has an average rating of "Hold" and a consensus target price of $4.50.

Richtech Robotics Stock Performance

Shares of Richtech Robotics stock traded down $0.65 during trading hours on Wednesday, hitting $6.09. The company's stock had a trading volume of 89,669,149 shares, compared to its average volume of 20,518,492. The company has a market cap of $912.08 million, a PE ratio of -35.79 and a beta of -4.14. Richtech Robotics has a 12-month low of $0.52 and a 12-month high of $7.43. The business has a 50 day moving average price of $3.70 and a two-hundred day moving average price of $2.62.

Richtech Robotics (NASDAQ:RR - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.04) 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 the consensus estimate of $1.42 million.

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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