Richtech Robotics Target of Unusually Large Options Trading (NASDAQ:RR)

Richtech Robotics Inc. (NASDAQ:RR) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 103,847 call options on the stock. This is an increase of 67% compared to the typical volume of 62,290 call options.

Insider Buying and Selling at Richtech Robotics

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $5.11, for a total value of $511,000.00. Following the completion of the transaction, the chief operating officer owned 1,000,000 shares in the company, valued at approximately $5,110,000. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Brookstone Capital Management purchased a new position in shares of Richtech Robotics in the third quarter valued at $46,000. DNB Asset Management AS increased its position in shares of Richtech Robotics by 44.0% in the second quarter. DNB Asset Management AS now owns 39,919 shares of the company’s stock valued at $78,000 after buying an additional 12,204 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Richtech Robotics in the first quarter valued at $25,000. ProShare Advisors LLC purchased a new stake in Richtech Robotics during the 2nd quarter worth about $28,000. Finally, WealthPlan Investment Management LLC increased its position in Richtech Robotics by 11.1% during the 2nd quarter. WealthPlan Investment Management LLC now owns 144,313 shares of the company’s stock worth $281,000 after purchasing an additional 14,450 shares in the last quarter. Hedge funds and other institutional investors own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

RR has been the subject of several research analyst reports. HC Wainwright increased their price objective on Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Richtech Robotics from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Richtech Robotics presently has an average rating of “Hold” and an average price target of $4.50.

Richtech Robotics Stock Down 8.5%

Shares of RR stock opened at $6.16 on Thursday. Richtech Robotics has a fifty-two week low of $0.52 and a fifty-two week high of $7.43. The stock has a market cap of $923.35 million, a P/E ratio of -36.23 and a beta of -4.14. The business has a fifty day simple moving average of $3.79 and a 200-day simple moving average of $2.65.

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

About Richtech Robotics

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.