Richtech Robotics Inc. (NASDAQ:RR) Sees Significant Growth in Short Interest

Richtech Robotics Inc. (NASDAQ:RR) was the target of a large increase in short interest in December. As of December 15th, there was short interest totaling 31,276,689 shares, an increase of 24.7% from the November 30th total of 25,083,528 shares. Based on an average trading volume of 39,401,312 shares, the short-interest ratio is currently 0.8 days. Approximately 26.0% of the company’s stock are sold short. Approximately 26.0% of the company’s stock are sold short. Based on an average trading volume of 39,401,312 shares, the short-interest ratio is currently 0.8 days.

Richtech Robotics Price Performance

Shares of Richtech Robotics stock traded up $0.21 during trading on Wednesday, hitting $3.30. The company’s stock had a trading volume of 14,785,216 shares, compared to its average volume of 21,971,814. Richtech Robotics has a 52 week low of $1.37 and a 52 week high of $7.43. The stock has a market cap of $493.89 million, a price-to-earnings ratio of -19.44 and a beta of -3.82. The stock has a 50-day moving average price of $3.93 and a two-hundred day moving average price of $3.39.

Hedge Funds Weigh In On Richtech Robotics

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in Richtech Robotics in the third quarter valued at approximately $38,000. Sovereign Financial Group Inc. bought a new stake in shares of Richtech Robotics in the 3rd quarter valued at $43,000. Virtue Capital Management LLC acquired a new stake in shares of Richtech Robotics during the third quarter worth $43,000. Rathbones Group PLC bought a new position in Richtech Robotics during the third quarter worth $44,000. Finally, Ausdal Financial Partners Inc. acquired a new position in Richtech Robotics in the third quarter valued at $45,000. 0.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a report on Monday, December 22nd. Wall Street Zen cut Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Finally, HC Wainwright raised their price objective on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Richtech Robotics presently has an average rating of “Hold” and an average price target of $4.50.

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.