Richtech Robotics (NASDAQ:RR) Trading Down 9.1% – Time to Sell?

Richtech Robotics Inc. (NASDAQ:RR) shares fell 9.1% during mid-day trading on Monday . The company traded as low as $3.79 and last traded at $3.7440. 3,791,416 shares were traded during mid-day trading, a decline of 83% from the average session volume of 22,101,033 shares. The stock had previously closed at $4.12.

Analysts Set New Price Targets

Several equities analysts have commented on RR shares. HC Wainwright upped their price target on Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a report on Friday, September 19th. Wall Street Zen downgraded Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Richtech Robotics in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Stock Performance

The business has a fifty day simple moving average of $4.46 and a 200 day simple moving average of $3.31. The stock has a market capitalization of $537.06 million, a price-to-earnings ratio of -21.08 and a beta of -3.82.

Insider Buying and Selling at Richtech Robotics

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $5.11, for a total value of $511,000.00. Following the completion of the transaction, the chief operating officer owned 1,000,000 shares of the company’s stock, valued at $5,110,000. This represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 19.79% of the company’s stock.

Hedge Funds Weigh In On Richtech Robotics

Several institutional investors have recently added to or reduced their stakes in RR. Vanguard Group Inc. increased its position 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 acquiring an additional 2,865,386 shares in the last quarter. Bank of America Corp DE grew its holdings in Richtech Robotics by 3,231.2% during the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company’s stock valued at $2,435,000 after purchasing an additional 1,211,256 shares during the period. Geode Capital Management LLC raised its position in shares of Richtech Robotics by 128.9% in the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock valued at $2,854,000 after purchasing an additional 824,253 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Richtech Robotics during the 1st quarter valued at about $1,630,000. Finally, Raymond James Financial Inc. grew its position in Richtech Robotics by 8,471.0% during the third quarter. Raymond James Financial Inc. now owns 504,830 shares of the company’s stock worth $2,166,000 after buying an additional 498,940 shares in the last quarter. 0.01% of the stock is owned by institutional investors and hedge funds.

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.