Richtech Robotics Inc. (NASDAQ:RR) Short Interest Update

by · The Cerbat Gem

Richtech Robotics Inc. (NASDAQ:RR – Get Free Report) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totaling 31,276,689 shares, an increase of 24.7% from the November 30th total of 25,083,528 shares. Based on an average trading volume of 39,401,312 shares, the short-interest ratio is currently 0.8 days. Currently, 26.0% of the company’s shares are sold short. Currently, 26.0% of the company’s shares are sold short. Based on an average trading volume of 39,401,312 shares, the short-interest ratio is currently 0.8 days.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on Richtech Robotics

Richtech Robotics Stock Up 6.6%

Richtech Robotics stock traded up $0.21 during mid-day trading on Wednesday, reaching $3.30. 14,785,216 shares of the company’s stock were exchanged, compared to its average volume of 21,971,814. The business’s fifty day simple moving average is $3.93 and its 200 day simple moving average is $3.39. Richtech Robotics has a one year low of $1.37 and a one year high of $7.43. The firm has a market capitalization of $493.89 million, a PE ratio of -19.44 and a beta of -3.82.

Institutional Investors Weigh In On Richtech Robotics

A number of hedge funds and other institutional investors have recently bought and sold shares of RR. Vanguard Group Inc. boosted its holdings in shares of Richtech Robotics by 164.0% in the third quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock worth $19,789,000 after acquiring an additional 2,865,386 shares during the period. Geode Capital Management LLC boosted its holdings in Richtech Robotics by 128.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock valued at $2,854,000 after purchasing an additional 824,253 shares during the period. Bank of America Corp DE grew its position in shares of Richtech Robotics by 3,231.2% during the 2nd quarter. Bank of America Corp DE now owns 1,248,742 shares of the company’s stock valued at $2,435,000 after purchasing an additional 1,211,256 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Richtech Robotics by 3.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 896,059 shares of the company’s stock worth $3,844,000 after purchasing an additional 33,329 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in Richtech Robotics by 8,471.0% during the third quarter. Raymond James Financial Inc. now owns 504,830 shares of the company’s stock valued at $2,166,000 after buying an additional 498,940 shares during the period. Institutional investors own 0.01% of the company’s stock.

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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