Richtech Robotics (NASDAQ:RR) Shares Gap Down Following Insider Selling

Richtech Robotics Inc. (NASDAQ:RR)’s share price gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $4.41, but opened at $4.14. Richtech Robotics shares last traded at $4.19, with a volume of 11,387,707 shares trading hands.

Specifically, COO Phil Zheng sold 100,000 shares of Richtech Robotics stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $5.11, for a total value of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares of the company’s stock, valued at $5,110,000. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RR shares. Wall Street Zen lowered shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, September 7th. HC Wainwright lifted their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $4.50.

Richtech Robotics Price Performance

The firm’s 50 day moving average price is $2.72 and its 200-day moving average price is $2.29. The firm has a market cap of $613.05 million, a price-to-earnings ratio of -24.06 and a beta of -4.46.

Richtech Robotics (NASDAQ:RR) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting 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%.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. acquired a new stake in Richtech Robotics during the first quarter worth $40,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Richtech Robotics during the first quarter worth $51,000. Millennium Management LLC acquired a new stake in Richtech Robotics during the fourth quarter worth $198,000. Citadel Advisors LLC acquired a new stake in Richtech Robotics during the fourth quarter worth $31,000. Finally, Two Sigma Investments LP acquired a new stake in Richtech Robotics during the fourth quarter worth $113,000. Institutional investors and hedge funds 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.