Richtech Robotics (NASDAQ:RR) Stock Price Down 2.2% – Time to Sell?

Richtech Robotics Inc. (NASDAQ:RR) shares traded down 2.2% during mid-day trading on Wednesday . The stock traded as low as $3.50 and last traded at $3.55. 15,443,177 shares traded hands during trading, a decline of 28% from the average session volume of 21,449,916 shares. The stock had previously closed at $3.63.

Wall Street Analyst Weigh In

RR has been the subject of a number of research reports. Wall Street Zen cut shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. HC Wainwright upped their price objective on Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Price Performance

The stock has a market cap of $532.12 million, a price-to-earnings ratio of -20.88 and a beta of -4.14. The business’s 50 day moving average is $4.72 and its 200 day moving average is $3.05.

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

Insider Buying and Selling

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 owned 1,000,000 shares of the company’s stock, valued at approximately $5,110,000. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Richtech Robotics

Several hedge funds have recently made changes to their positions in RR. Cambridge Investment Research Advisors Inc. purchased a new stake in Richtech Robotics in the first quarter valued at approximately $51,000. Private Advisor Group LLC purchased a new stake in Richtech Robotics during the 1st quarter valued at approximately $25,000. Cary Street Partners Financial LLC lifted its position in Richtech Robotics by 76.5% during the 1st quarter. Cary Street Partners Financial LLC now owns 60,000 shares of the company’s stock worth $119,000 after acquiring an additional 26,000 shares during the period. Charles Schwab Investment Management Inc. purchased a new position in Richtech Robotics in the 1st quarter valued at $40,000. Finally, WealthPlan Investment Management LLC acquired a new position in shares of Richtech Robotics during the first quarter worth about $257,000. Hedge funds and other institutional investors own 0.01% of the company’s stock.

Richtech Robotics Company Profile

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.