Richtech Robotics (NASDAQ:RR) Shares Up 1.7% – Here’s Why

Richtech Robotics Inc. (NASDAQ:RRGet Free Report)’s share price rose 1.7% during mid-day trading on Tuesday . The stock traded as high as $2.37 and last traded at $2.35. Approximately 6,062,068 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 10,539,582 shares. The stock had previously closed at $2.31.

Richtech Robotics News Summary

Here are the key news stories impacting Richtech Robotics this week:

Analysts Set New Price Targets

RR has been the subject of a number of recent research reports. Wall Street Zen downgraded Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Richtech Robotics in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Richtech Robotics in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Richtech Robotics has a consensus rating of “Hold” and a consensus target price of $6.00.

Check Out Our Latest Research Report on Richtech Robotics

Richtech Robotics Price Performance

The business’s 50 day simple moving average is $3.25 and its 200-day simple moving average is $3.86. The stock has a market capitalization of $505.49 million, a P/E ratio of -16.79 and a beta of -3.12.

Richtech Robotics (NASDAQ:RRGet Free Report) last issued its earnings results on Tuesday, January 20th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. Richtech Robotics had a negative net margin of 417.41% and a negative return on equity of 10.68%. The company had revenue of $1.44 million during the quarter, compared to analysts’ expectations of $1.31 million.

Insider Buying and Selling

In other Richtech Robotics news, insider Matthew G. Casella sold 12,500 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $2.68, for a total value of $33,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 19.79% of the company’s stock.

Hedge Funds Weigh In On Richtech Robotics

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of Richtech Robotics by 306.5% in the 4th quarter. Invesco Ltd. now owns 147,800 shares of the company’s stock valued at $477,000 after acquiring an additional 111,444 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in Richtech Robotics during the 4th quarter worth approximately $32,000. XTX Topco Ltd bought a new position in Richtech Robotics during the 4th quarter worth approximately $177,000. VARCOV Co. acquired a new position in Richtech Robotics during the fourth quarter valued at approximately $257,000. Finally, Toronto Dominion Bank acquired a new position in Richtech Robotics during the fourth quarter valued at approximately $81,000. 0.01% of the stock is currently owned by institutional investors and hedge funds.

About Richtech Robotics

(Get Free Report)

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.

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