Richtech Robotics (NASDAQ:RR) Stock Price Down 8.4% – What’s Next?

Shares of Richtech Robotics Inc. (NASDAQ:RR) dropped 8.4% during trading on Monday . The company traded as low as $2.47 and last traded at $2.4550. Approximately 3,322,877 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 19,567,311 shares. The stock had previously closed at $2.68.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Richtech Robotics in a research note on Friday, April 24th. 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. Finally, Wall Street Zen lowered shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Richtech Robotics currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Richtech Robotics Trading Down 8.4%

The company has a market cap of $528.07 million, a PE ratio of -17.54 and a beta of -1.34. The firm’s 50-day simple moving average is $2.34 and its two-hundred day simple moving average is $3.16.

Insider Buying and Selling

In other Richtech Robotics news, insider Matthew G. Casella sold 12,500 shares of Richtech Robotics stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $2.68, for a total transaction of $33,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Richtech Robotics in the first quarter worth $25,000. Summit Securities Group LLC acquired a new position in shares of Richtech Robotics in the fourth quarter worth $26,000. Principal Financial Group Inc. acquired a new position in shares of Richtech Robotics in the first quarter worth $27,000. Griffin Asset Management Inc. purchased a new position in Richtech Robotics in the first quarter worth approximately $29,000. Finally, Axxcess Wealth Management LLC purchased a new position in Richtech Robotics in the fourth quarter worth approximately $32,000. 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.