Richtech Robotics (NASDAQ:RR) Shares Down 8.5% – What’s Next?

Shares of Richtech Robotics Inc. (NASDAQ:RR) fell 8.5% during mid-day trading on Friday . The stock traded as low as $3.28 and last traded at $3.34. 5,891,300 shares were traded during mid-day trading, a decline of 73% from the average session volume of 22,018,619 shares. The stock had previously closed at $3.65.

Analyst Upgrades and Downgrades

RR has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a report on Monday, December 22nd. HC Wainwright raised their target price on Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Finally, Wall Street Zen cut Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Stock Down 7.9%

The firm has a market capitalization of $503.63 million, a PE ratio of -19.76 and a beta of -3.82. The stock has a 50-day simple moving average of $4.02 and a 200-day simple moving average of $3.36.

Institutional Investors Weigh In On Richtech Robotics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC bought a new position in Richtech Robotics during the second quarter worth about $28,000. Delos Wealth Advisors LLC bought a new stake in shares of Richtech Robotics in the second quarter valued at approximately $29,000. RiverGlades Family Offices LLC purchased a new stake in shares of Richtech Robotics during the 2nd quarter valued at approximately $32,000. Police & Firemen s Retirement System of New Jersey bought a new position in Richtech Robotics in the 2nd quarter worth approximately $33,000. Finally, Russell Investments Group Ltd. bought a new position in Richtech Robotics in the 3rd quarter worth approximately $38,000. 0.01% of the stock is currently owned by institutional investors.

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.