Richtech Robotics (NASDAQ:RR) Stock Rating Upgraded by Wall Street Zen

Richtech Robotics (NASDAQ:RR) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Richtech Robotics in a report on Wednesday, October 8th. HC Wainwright raised their target price on shares of 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Richtech Robotics presently has an average rating of “Hold” and an average price target of $4.50.

Richtech Robotics Stock Down 9.3%

Shares of NASDAQ RR opened at $5.92 on Friday. The firm’s 50-day moving average price is $3.52 and its two-hundred day moving average price is $2.56. Richtech Robotics has a 52-week low of $0.52 and a 52-week high of $7.43. The stock has a market capitalization of $887.37 million, a P/E ratio of -34.82 and a beta of -4.14.

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

Insider Activity at Richtech Robotics

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Richtech Robotics by 128.9% in the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock valued at $2,854,000 after acquiring an additional 824,253 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Richtech Robotics by 3,231.2% in the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company’s stock valued at $2,435,000 after acquiring an additional 1,211,256 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Richtech Robotics by 4.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company’s stock valued at $1,682,000 after acquiring an additional 39,249 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Richtech Robotics in the first quarter valued at approximately $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Richtech Robotics in the second quarter valued at approximately $526,000. 0.01% of the stock is currently owned by 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.