Wall Street Zen Upgrades Richtech Robotics (NASDAQ:RR) to Hold

Richtech Robotics (NASDAQ:RR) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.00.

Richtech Robotics Stock Performance

Shares of RR stock opened at $1.80 on Friday. The company has a market cap of $405.18 million, a P/E ratio of -18.00 and a beta of -0.65. The stock has a 50 day simple moving average of $1.82 and a two-hundred day simple moving average of $2.37. Richtech Robotics has a fifty-two week low of $1.30 and a fifty-two week high of $7.43.

Hedge Funds Weigh In On Richtech Robotics

A number of institutional investors and hedge funds have recently made changes to their positions in RR. R Squared Ltd bought a new stake in Richtech Robotics in the 1st quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in Richtech Robotics during the 4th quarter worth approximately $26,000. Principal Financial Group Inc. bought a new position in Richtech Robotics in the first quarter worth approximately $27,000. Griffin Asset Management Inc. bought a new position in Richtech Robotics in the first quarter worth approximately $29,000. Finally, Axxcess Wealth Management LLC acquired a new stake in Richtech Robotics in the fourth quarter valued at approximately $32,000. 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.