Richtech Robotics (NASDAQ:RR) Trading Up 9.5% – Should You Buy?

by · The Cerbat Gem

Shares of Richtech Robotics Inc. (NASDAQ:RR – Get Free Report) rose 9.5% during trading on Tuesday . The company traded as high as $3.62 and last traded at $3.58. Approximately 21,520,612 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 21,426,912 shares. The stock had previously closed at $3.27.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RR. Wall Street Zen lowered shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a research report on Monday. Finally, HC Wainwright boosted their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Two analysts have 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, the company presently has an average rating of “Hold” and an average target price of $4.50.

View Our Latest Stock Report on Richtech Robotics

Richtech Robotics Stock Performance

The stock’s fifty day simple moving average is $4.76 and its two-hundred day simple moving average is $3.12. The stock has a market capitalization of $536.61 million, a P/E ratio of -21.06 and a beta of -4.14.

Insider Activity at Richtech Robotics

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $5.11, for a total value of $511,000.00. Following the sale, the chief operating officer owned 1,000,000 shares in the company, valued at approximately $5,110,000. The trade was a 9.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 19.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RR. Concurrent Investment Advisors LLC increased its holdings in Richtech Robotics by 22.4% in the third quarter. Concurrent Investment Advisors LLC now owns 15,542 shares of the company’s stock worth $67,000 after purchasing an additional 2,842 shares in the last quarter. DNB Asset Management AS lifted its position in Richtech Robotics by 9.9% in the 3rd quarter. DNB Asset Management AS now owns 43,858 shares of the company’s stock valued at $188,000 after acquiring an additional 3,939 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Richtech Robotics by 14.3% during the third quarter. Two Sigma Investments LP now owns 35,473 shares of the company’s stock valued at $152,000 after buying an additional 4,429 shares during the last quarter. Delos Wealth Advisors LLC lifted its position in shares of Richtech Robotics by 30.0% during the third quarter. Delos Wealth Advisors LLC now owns 19,500 shares of the company’s stock valued at $84,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Richtech Robotics in the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 0.01% of the company’s stock.

Richtech Robotics Company Profile

(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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