60,000 Shares in Richtech Robotics Inc. $RR Bought by Bogart Wealth LLC

Bogart Wealth LLC acquired a new stake in shares of Richtech Robotics Inc. (NASDAQ:RR) during the second quarter, Holdings Channel reports. The fund acquired 60,000 shares of the company’s stock, valued at approximately $117,000.

A number of other institutional investors also recently modified their holdings of RR. Cambridge Investment Research Advisors Inc. bought a new position in Richtech Robotics in the first quarter worth about $51,000. NTV Asset Management LLC bought a new stake in Richtech Robotics in the 1st quarter worth approximately $50,000. Private Advisor Group LLC bought a new stake in Richtech Robotics in the 1st quarter worth approximately $25,000. Cary Street Partners Financial LLC grew its position in Richtech Robotics by 76.5% in the 1st quarter. Cary Street Partners Financial LLC now owns 60,000 shares of the company’s stock worth $119,000 after purchasing an additional 26,000 shares during the period. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Richtech Robotics during the 1st quarter worth $40,000. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RR. HC Wainwright lifted their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Richtech Robotics currently has an average rating of “Hold” and a consensus price target of $4.50.

Insider Activity

In other news, COO Phil Zheng sold 100,000 shares of Richtech Robotics stock in a transaction dated 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 $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 is available through this link. 25.70% of the stock is currently owned by company insiders.

Richtech Robotics Stock Up 2.2%

NASDAQ RR opened at $5.56 on Tuesday. Richtech Robotics Inc. has a 52 week low of $0.52 and a 52 week high of $7.43. The firm has a market cap of $833.39 million, a PE ratio of -32.70 and a beta of -4.14. The company has a 50 day moving average price of $4.01 and a 200 day moving average price of $2.73.

Richtech Robotics (NASDAQ:RR) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting 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 business had revenue of $1.18 million for the quarter, compared to analyst estimates of $1.42 million.

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.