Richtech Robotics (NASDAQ:RR) Shares Gap Up – What’s Next?

Shares of Richtech Robotics Inc. (NASDAQ:RR) gapped up prior to trading on Wednesday . The stock had previously closed at $3.56, but opened at $3.75. Richtech Robotics shares last traded at $3.7070, with a volume of 17,213,730 shares changing hands.

Analyst Ratings Changes

RR has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a research note on Monday. 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 upped their price target on Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Richtech Robotics currently has an average rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Trading Up 8.8%

The firm has a market capitalization of $688.00 million, a price-to-earnings ratio of -27.00 and a beta of -3.82. The stock’s fifty day moving average price is $4.64 and its two-hundred day moving average price is $3.19.

Insider Transactions at Richtech Robotics

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

Institutional Investors Weigh In On Richtech Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in RR. Concurrent Investment Advisors LLC lifted its stake in Richtech Robotics by 22.4% during the third quarter. Concurrent Investment Advisors LLC now owns 15,542 shares of the company’s stock worth $67,000 after purchasing an additional 2,842 shares during the last quarter. DNB Asset Management AS raised its holdings in Richtech Robotics by 9.9% during the third quarter. DNB Asset Management AS now owns 43,858 shares of the company’s stock worth $188,000 after purchasing an additional 3,939 shares in the last quarter. Two Sigma Investments LP raised its holdings in Richtech Robotics by 14.3% during the third quarter. Two Sigma Investments LP now owns 35,473 shares of the company’s stock worth $152,000 after purchasing an additional 4,429 shares in the last quarter. Delos Wealth Advisors LLC lifted its position in shares of Richtech Robotics by 30.0% during the 3rd quarter. Delos Wealth Advisors LLC now owns 19,500 shares of the company’s stock worth $84,000 after buying an additional 4,500 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Richtech Robotics in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 0.01% of the company’s stock.

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.