Richtech Robotics (NASDAQ:RR) Trading Up 7.9% – Should You Buy?

Richtech Robotics Inc. (NASDAQ:RR) shares shot up 7.9% during mid-day trading on Tuesday . The stock traded as high as $2.78 and last traded at $2.7730. 3,779,118 shares changed hands during trading, a decline of 82% from the average session volume of 21,465,391 shares. The stock had previously closed at $2.57.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RR. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Richtech Robotics in a research note on Wednesday, February 18th. Wall Street Zen cut Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.00.

Richtech Robotics Stock Down 7.8%

The company has a market capitalization of $549.57 million, a P/E ratio of -18.25 and a beta of -2.10. The business has a 50 day simple moving average of $2.37 and a 200-day simple moving average of $3.55.

Insider Transactions at Richtech Robotics

In other Richtech Robotics news, insider Matthew G. Casella sold 12,500 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $2.68, for a total value of $33,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 19.79% of the company’s stock.

Hedge Funds Weigh In On Richtech Robotics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Richtech Robotics during the 1st quarter valued at about $1,630,000. Goldman Sachs Group Inc. bought a new stake in Richtech Robotics during the first quarter worth approximately $459,000. Geode Capital Management LLC raised its holdings in Richtech Robotics by 128.9% during the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock worth $2,854,000 after purchasing an additional 824,253 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Richtech Robotics by 71.4% in the second quarter. JPMorgan Chase & Co. now owns 78,489 shares of the company’s stock worth $153,000 after purchasing an additional 32,684 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in Richtech Robotics in the second quarter worth approximately $95,000. Institutional investors own 0.01% of the company’s stock.

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.