Richtech Robotics (NASDAQ:RR) Stock Price Up 7.1% – Should You Buy?

Richtech Robotics Inc. (NASDAQ:RR) shares traded up 7.1% on Thursday . The company traded as high as $4.30 and last traded at $4.4440. 13,683,603 shares traded hands during trading, a decline of 38% from the average session volume of 21,980,295 shares. The stock had previously closed at $4.15.

Wall Street Analyst Weigh In

RR has been the topic of several analyst reports. Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Richtech Robotics in a research report on Monday, December 1st. Finally, HC Wainwright increased their price target on Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.50.

Richtech Robotics Trading Down 12.0%

The company has a market cap of $617.55 million, a P/E ratio of -24.23 and a beta of -3.82. The company’s 50-day moving average price is $4.59 and its two-hundred day moving average price is $3.28.

Insiders Place Their Bets

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the company’s stock in a transaction that occurred on 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 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 through this link. 19.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Richtech Robotics

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. bought a new position in shares of Richtech Robotics during the first quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new position in Richtech Robotics during the 1st quarter valued at approximately $122,000. American Century Companies Inc. bought a new position in Richtech Robotics during the 1st quarter worth $78,000. OMERS ADMINISTRATION Corp acquired a new stake in Richtech Robotics in the first quarter worth $703,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Richtech Robotics in the first quarter valued at $1,630,000. 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.