Richtech Robotics (NASDAQ:RR) Coverage Initiated at Lake Street Capital

Lake Street Capital assumed coverage on shares of Richtech Robotics (NASDAQ:RR) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $3.00 price objective on the stock.

Richtech Robotics Stock Up 0.5 %

RR stock opened at $2.14 on Tuesday. The stock’s fifty day simple moving average is $2.40 and its two-hundred day simple moving average is $1.56. The company has a current ratio of 39.74, a quick ratio of 70.11 and a debt-to-equity ratio of 0.01. Richtech Robotics has a 1-year low of $0.30 and a 1-year high of $5.20. The stock has a market cap of $239.79 million, a P/E ratio of -16.46 and a beta of -7.94.

Richtech Robotics (NASDAQ:RR) last posted its quarterly earnings data on Friday, February 14th. The company reported ($0.04) earnings per share for the quarter. Richtech Robotics had a negative return on equity of 32.24% and a negative net margin of 203.60%. The business had revenue of $1.26 million during the quarter.

Insider Activity

In related news, President Matthew G. Casella sold 60,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1.67, for a total transaction of $100,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 41.30% of the company’s stock.

Institutional Trading of Richtech Robotics

A number of institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new position in Richtech Robotics in the 4th quarter worth about $31,000. Global Wealth Management Investment Advisory Inc. bought a new position in shares of Richtech Robotics during the 4th quarter valued at about $47,000. Arete Wealth Advisors LLC bought a new position in shares of Richtech Robotics during the 4th quarter valued at about $69,000. Cary Street Partners Financial LLC bought a new position in shares of Richtech Robotics during the 4th quarter valued at about $92,000. Finally, Two Sigma Investments LP bought a new position in shares of Richtech Robotics during the 4th quarter valued at about $113,000. Hedge funds and other 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.