Richtech Robotics Inc. (NASDAQ:RR) Sees Significant Growth in Short Interest

Richtech Robotics Inc. (NASDAQ:RR) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 45,781,408 shares, a growth of 41.0% from the January 15th total of 32,472,632 shares. Based on an average daily volume of 67,866,416 shares, the days-to-cover ratio is presently 0.7 days. Currently, 26.5% of the shares of the stock are short sold. Currently, 26.5% of the shares of the stock are short sold. Based on an average daily volume of 67,866,416 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On Richtech Robotics

Several institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Richtech Robotics during the 1st quarter worth approximately $1,630,000. Goldman Sachs Group Inc. bought a new stake in shares of Richtech Robotics during the first quarter worth $459,000. WealthPlan Investment Management LLC raised its holdings 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 worth $281,000 after acquiring an additional 14,450 shares during the period. Bogart Wealth LLC bought a new stake in Richtech Robotics in the 2nd quarter valued at $117,000. Finally, RiverGlades Family Offices LLC acquired a new position in Richtech Robotics in the 2nd quarter worth $32,000. Institutional investors own 0.01% of the company’s stock.

Richtech Robotics Trading Up 3.5%

Shares of NASDAQ:RR traded up $0.10 during mid-day trading on Monday, reaching $2.98. The stock had a trading volume of 15,335,873 shares, compared to its average volume of 43,585,300. The firm has a market cap of $641.00 million, a PE ratio of -21.29 and a beta of -3.63. The firm has a 50 day simple moving average of $3.73 and a two-hundred day simple moving average of $3.81. Richtech Robotics has a twelve month low of $1.37 and a twelve month high of $7.43.

Richtech Robotics (NASDAQ:RR) last posted its earnings results on Tuesday, January 20th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $1.31 million. Richtech Robotics had a negative net margin of 417.41% and a negative return on equity of 10.68%.

Analyst Ratings Changes

Several equities research analysts have recently commented on RR shares. Wall Street Zen cut Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Saturday. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Richtech Robotics in a research report on Monday, February 2nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Richtech Robotics in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Richtech Robotics has a consensus rating of “Hold” and a consensus target price of $4.50.

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.