Richtech Robotics (NASDAQ:RR) Raised to Hold at Freedom Capital

Richtech Robotics (NASDAQ:RR) was upgraded by analysts at Freedom Capital from a “strong sell” rating to a “hold” rating in a research note issued to investors on Sunday,Zacks.com reports.

Several other research firms have also recently weighed in on RR. Wall Street Zen upgraded Richtech Robotics from a “strong sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Richtech Robotics in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Richtech Robotics has an average rating of “Hold” and an average target price of $6.00.

Richtech Robotics Price Performance

Richtech Robotics stock opened at $1.72 on Friday. The stock has a market cap of $387.17 million, a PE ratio of -17.20 and a beta of -0.65. The stock’s fifty day moving average is $1.81 and its two-hundred day moving average is $2.34. Richtech Robotics has a 1-year low of $1.30 and a 1-year high of $7.43.

Hedge Funds Weigh In On Richtech Robotics

Several large investors have recently bought and sold shares of RR. Vanguard Group Inc. grew its holdings in shares of Richtech Robotics by 164.0% during the third quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock worth $19,789,000 after purchasing an additional 2,865,386 shares during the last quarter. State Street Corp increased its position in shares of Richtech Robotics by 99.7% during the fourth quarter. State Street Corp now owns 4,446,247 shares of the company’s stock worth $14,361,000 after purchasing an additional 2,219,849 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Richtech Robotics by 738.8% in the 1st quarter. Bank of America Corp DE now owns 1,847,776 shares of the company’s stock valued at $3,862,000 after purchasing an additional 1,627,482 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Richtech Robotics by 73.5% in the 4th quarter. Geode Capital Management LLC now owns 3,586,863 shares of the company’s stock valued at $11,589,000 after purchasing an additional 1,519,613 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Richtech Robotics by 412.2% in the 4th quarter. UBS Group AG now owns 1,804,574 shares of the company’s stock valued at $5,829,000 after purchasing an additional 1,452,236 shares during the period. Institutional investors and hedge funds 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.