Richtech Robotics (NASDAQ:RR) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Richtech Robotics (NASDAQ:RR) from a hold rating to a sell rating in a report published on Sunday.

Other research analysts have also recently issued reports about the company. HC Wainwright boosted their target price on Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.50.

Richtech Robotics Price Performance

RR opened at $5.63 on Friday. The firm has a market capitalization of $843.90 million, a price-to-earnings ratio of -33.12 and a beta of -4.14. The company’s 50 day simple moving average is $4.08 and its two-hundred day simple moving average is $2.75. Richtech Robotics has a 1-year low of $0.52 and a 1-year high of $7.43.

Richtech Robotics (NASDAQ:RR) last issued its earnings results on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $1.18 million for the quarter, compared to analysts’ expectations of $1.42 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Insider Activity at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of Richtech Robotics stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the sale, the chief operating officer owned 1,000,000 shares of the company’s stock, valued at approximately $5,110,000. The trade was a 9.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 25.70% of the company’s stock.

Institutional Trading of Richtech Robotics

Several institutional investors have recently made changes to their positions in RR. Bank of America Corp DE increased its holdings in Richtech Robotics by 3,231.2% in the 2nd 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 last quarter. Geode Capital Management LLC increased its holdings in Richtech Robotics by 128.9% in the 2nd 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Richtech Robotics in the 1st quarter valued at approximately $1,630,000. OMERS ADMINISTRATION Corp acquired a new stake in Richtech Robotics in the 1st quarter valued at approximately $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Richtech Robotics in the 2nd quarter valued at approximately $526,000. Hedge funds and other 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.