Richtech Robotics Inc. (NASDAQ:RR – Get Free Report) traded down 0.6% on Tuesday. The company traded as low as $1.69 and last traded at $1.73. Approximately 5,550,316 shares were traded during trading, a decline of 5% from the average daily volume of 5,866,940 shares. The stock had previously closed at $1.74.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on RR shares. Freedom Capital raised shares of Richtech Robotics from a “strong sell” rating to a “hold” rating in a report on Sunday, August 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Richtech Robotics in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Richtech Robotics has a consensus rating of “Hold” and an average target price of $6.00.
Richtech Robotics Stock Performance
Richtech Robotics announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 25th that permits the company to repurchase $12.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Richtech Robotics in the 1st quarter valued at $25,000. Principal Financial Group Inc. purchased a new position in Richtech Robotics during the 1st quarter valued at about $27,000. Griffin Asset Management Inc. acquired a new position in Richtech Robotics in the 1st quarter valued at about $29,000. AXQ Capital LP acquired a new position in Richtech Robotics in the 2nd quarter valued at about $29,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Richtech Robotics during the fourth quarter worth about $32,000. 0.01% of the stock is currently owned by hedge funds and other institutional investors.
Richtech Robotics Company Profile
Richtech Robotics, Inc (NASDAQ:RR) develops, manufactures, and deploys artificial intelligence-powered service robots for commercial customers. The company focuses on automating routine tasks in restaurants, hospitality, healthcare, education, and other service-oriented environments.
Its product portfolio includes ADAM, a robotic beverage and bartending system; Matradee and other delivery robots designed to transport food, beverages, and materials; and DUST-E, an autonomous floor-cleaning robot.
Featured Stories
- Five stocks we like better than Richtech Robotics
- Hims & Hers Slides Nearly 7% as Legal Pressure Adds to Its Growing List of Risks
- Paychex Plunges, Providing the Entry Investors Have Been Waiting For
- The Case for Buying High-Yield General Mills Just Strengthened
- SanDisk’s $1,800 Breakout Turns Memory Hardware Into a Profit Story
Receive News & Ratings for Richtech Robotics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Richtech Robotics and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
