Richtech Robotics (NASDAQ:RR) Stock Price Down 7.7% – Here’s What Happened

Richtech Robotics Inc. (NASDAQ:RR)’s share price traded down 7.7% during mid-day trading on Thursday . The stock traded as low as $3.70 and last traded at $3.72. 19,731,686 shares traded hands during trading, a decline of 8% from the average session volume of 21,489,934 shares. The stock had previously closed at $4.03.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RR. Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. HC Wainwright lifted their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Stock Down 7.7%

The firm has a market capitalization of $557.61 million, a price-to-earnings ratio of -21.88 and a beta of -4.13. The firm’s 50 day moving average is $4.66 and its 200 day moving average is $3.00.

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

Insiders Place Their Bets

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the company’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 value of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares in the company, valued at approximately $5,110,000. This represents a 9.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.79% of the company’s stock.

Institutional Trading of Richtech Robotics

Several large investors have recently modified their holdings of RR. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Richtech Robotics during the 1st quarter worth $51,000. NTV Asset Management LLC bought a new stake in shares of Richtech Robotics during the 1st quarter worth $50,000. Private Advisor Group LLC bought a new stake in shares of Richtech Robotics during the 1st quarter worth $25,000. Cary Street Partners Financial LLC boosted its holdings in Richtech Robotics by 76.5% in the 1st quarter. Cary Street Partners Financial LLC now owns 60,000 shares of the company’s stock valued at $119,000 after purchasing an additional 26,000 shares during the period. Finally, Charles Schwab Investment Management Inc. bought a new stake in Richtech Robotics in the 1st quarter valued at $40,000. 0.01% of the stock is owned by institutional investors.

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.