Richtech Robotics (NASDAQ:RR) Trading Down 9.1% – Here’s Why

by · The Cerbat Gem

Richtech Robotics Inc. (NASDAQ:RR – Get Free Report) traded down 9.1% during trading on Monday . The company traded as low as $3.79 and last traded at $3.7440. 3,791,416 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 22,101,033 shares. The stock had previously closed at $4.12.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen lowered Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a report on Monday, December 1st. Finally, HC Wainwright lifted their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Richtech Robotics has a consensus rating of “Hold” and a consensus target price of $4.50.

Check Out Our Latest Stock Report on RR

Richtech Robotics Stock Down 13.0%

The stock’s 50-day moving average price is $4.59 and its 200 day moving average price is $3.29. The company has a market cap of $537.36 million, a P/E ratio of -21.15 and a beta of -3.79.

Insiders Place Their Bets

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 shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the completion of the sale, the chief operating officer directly owned 1,000,000 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 19.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Richtech Robotics

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new stake in Richtech Robotics in the 3rd quarter valued at approximately $38,000. Sovereign Financial Group Inc. acquired a new position in shares of Richtech Robotics during the third quarter worth approximately $43,000. Virtue Capital Management LLC bought a new stake in shares of Richtech Robotics in the third quarter valued at approximately $43,000. Rathbones Group PLC acquired a new stake in shares of Richtech Robotics in the third quarter worth $44,000. Finally, Ausdal Financial Partners Inc. bought a new position in Richtech Robotics during the third quarter worth $45,000. Institutional investors and hedge funds 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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