Cambridge Investment Research Advisors Inc. Purchases New Stake in Richtech Robotics Inc. (NASDAQ:RR)

Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Richtech Robotics Inc. (NASDAQ:RR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,740 shares of the company’s stock, valued at approximately $51,000.

Several other institutional investors and hedge funds have also made changes to their positions in RR. Millennium Management LLC acquired a new stake in Richtech Robotics in the fourth quarter worth $198,000. Citadel Advisors LLC bought a new position in shares of Richtech Robotics in the fourth quarter worth $31,000. Jane Street Group LLC grew its stake in shares of Richtech Robotics by 113.0% in the fourth quarter. Jane Street Group LLC now owns 442,248 shares of the company’s stock worth $1,194,000 after purchasing an additional 234,578 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Richtech Robotics in the fourth quarter worth $113,000. Finally, Geode Capital Management LLC grew its stake in shares of Richtech Robotics by 93.3% in the fourth quarter. Geode Capital Management LLC now owns 440,760 shares of the company’s stock worth $1,190,000 after purchasing an additional 212,709 shares in the last quarter. 0.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on RR shares. HC Wainwright started coverage on Richtech Robotics in a research note on Friday, April 11th. They set a “buy” rating and a $3.50 target price for the company. Lake Street Capital started coverage on Richtech Robotics in a research note on Tuesday, March 18th. They set a “buy” rating and a $3.00 target price for the company.

Richtech Robotics Stock Down 5.5%

RR opened at $1.73 on Wednesday. Richtech Robotics Inc. has a fifty-two week low of $0.30 and a fifty-two week high of $5.20. The business has a 50-day moving average of $2.11 and a 200-day moving average of $2.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 75.74 and a quick ratio of 73.23. The company has a market capitalization of $198.09 million, a PE ratio of -11.53 and a beta of -4.50.

Richtech Robotics (NASDAQ:RR) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Richtech Robotics had a negative return on equity of 31.58% and a negative net margin of 281.42%. The firm had revenue of $1.17 million for the quarter, compared to analysts’ expectations of $1.91 million.

Insider Activity at Richtech Robotics

In other news, COO Phil Zheng sold 105,213 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $2.64, for a total transaction of $277,762.32. Following the transaction, the chief operating officer owned 1,294,787 shares of the company’s stock, valued at approximately $3,418,237.68. This represents a 7.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 41.30% of the company’s stock.

Richtech Robotics 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.