Richtech Robotics (NASDAQ:RR) Stock Price Down 3.7% – What’s Next?

Richtech Robotics Inc. (NASDAQ:RR)’s share price dropped 3.7% on Friday . The company traded as low as $1.54 and last traded at $1.55. 7,092,266 shares traded hands during trading, a decline of 6% from the average session volume of 7,551,410 shares. The stock had previously closed at $1.61.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Richtech Robotics in a research report on Tuesday. Wall Street Zen upgraded Richtech Robotics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.00.

Richtech Robotics Stock Performance

The stock has a market cap of $333.40 million, a PE ratio of -11.07 and a beta of -0.84. The company’s 50-day moving average price is $2.19 and its 200 day moving average price is $2.62.

Institutional Trading of Richtech Robotics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RR. R Squared Ltd purchased a new position in shares of Richtech Robotics during the 1st quarter worth $25,000. Summit Securities Group LLC purchased a new stake in shares of Richtech Robotics in the 4th quarter worth $26,000. Principal Financial Group Inc. bought a new position in Richtech Robotics in the 1st quarter worth $27,000. Griffin Asset Management Inc. purchased a new position in Richtech Robotics during the first quarter valued at $29,000. Finally, Axxcess Wealth Management LLC purchased a new position in Richtech Robotics during the fourth quarter valued at $32,000. 0.01% of the stock is owned by hedge funds and other 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.