Richtech Robotics (NASDAQ:RR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Richtech Robotics (NASDAQ:RR) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other research firms also recently weighed in on RR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Richtech Robotics in a research report on Wednesday. HC Wainwright upped their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Richtech Robotics presently has an average rating of “Hold” and a consensus target price of $4.50.

Richtech Robotics Price Performance

NASDAQ:RR opened at $5.92 on Friday. The firm’s 50-day moving average price is $3.52 and its 200-day moving average price is $2.56. The company has a market capitalization of $887.35 million, a PE ratio of -34.82 and a beta of -4.14. Richtech Robotics has a 1-year low of $0.52 and a 1-year high of $7.43.

Richtech Robotics (NASDAQ:RR) last released its earnings results on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.42 million. Richtech Robotics had a negative net margin of 366.21% and a negative return on equity of 23.85%.

Insider Buying and Selling

In related news, COO Phil Zheng sold 100,000 shares of the 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 sale, the chief operating officer directly owned 1,000,000 shares of the company’s stock, valued at approximately $5,110,000. This represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 25.70% of the company’s stock.

Institutional Trading of Richtech Robotics

Several institutional investors have recently bought and sold shares of the company. Centaurus Financial Inc. purchased a new stake in shares of Richtech Robotics during the 2nd quarter valued at about $47,000. Delos Wealth Advisors LLC purchased a new stake in shares of Richtech Robotics during the 2nd quarter valued at about $29,000. Bank of America Corp DE boosted its holdings 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 acquiring an additional 1,211,256 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Richtech Robotics by 4.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company’s stock valued at $1,682,000 after acquiring an additional 39,249 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Richtech Robotics during the 2nd quarter valued at about $47,000. 0.01% of the stock is owned by hedge funds and other 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.