Richtech Robotics (NASDAQ:RR) Trading Down 2.4% – What’s Next?

Richtech Robotics Inc. (NASDAQ:RR)’s share price fell 2.4% during mid-day trading on Monday . The company traded as low as $4.06 and last traded at $4.10. 54,295,918 shares changed hands during trading, an increase of 213% from the average session volume of 17,341,088 shares. The stock had previously closed at $4.20.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RR. HC Wainwright increased their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a 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 equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Richtech Robotics presently has an average rating of “Buy” and an average price target of $4.50.

Richtech Robotics Trading Down 2.4%

The company has a market cap of $614.55 million, a price-to-earnings ratio of -24.12 and a beta of -4.49. The company’s 50 day moving average price is $2.76 and its 200 day moving average price is $2.31.

Richtech Robotics (NASDAQ:RR) last issued its earnings results on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.42 million. Richtech Robotics had a negative net margin of 366.21% and a negative return on equity of 23.85%.

Insider Activity at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.11, for a total value 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. The trade was a 9.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 25.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RR. Private Advisor Group LLC purchased a new position in Richtech Robotics in the 1st quarter valued at about $25,000. ProShare Advisors LLC purchased a new position in Richtech Robotics in the 2nd quarter valued at about $28,000. SeaCrest Wealth Management LLC purchased a new position in Richtech Robotics in the 1st quarter valued at about $29,000. Delos Wealth Advisors LLC purchased a new position in Richtech Robotics in the 2nd quarter valued at about $29,000. Finally, Citadel Advisors LLC purchased a new position in Richtech Robotics in the 4th quarter valued at about $31,000. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

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.