Wall Street Zen downgraded shares of Richtech Robotics (NASDAQ:RR – Free Report) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.
Other research analysts have also issued research reports about the stock. Freedom Capital raised shares of Richtech Robotics from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.00.
View Our Latest Stock Report on Richtech Robotics
Richtech Robotics Stock Up 2.2%
Richtech Robotics declared that its board has initiated a share buyback program on Tuesday, August 25th that permits the company to buyback $12.00 million in shares. This buyback authorization permits the company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Institutional Trading of Richtech Robotics
A number of institutional investors have recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Richtech Robotics during the 1st quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in Richtech Robotics during the fourth quarter worth $26,000. Principal Financial Group Inc. bought a new stake in Richtech Robotics during the 1st quarter worth about $27,000. Griffin Asset Management Inc. acquired a new position in shares of Richtech Robotics during the 1st quarter worth about $29,000. Finally, AXQ Capital LP acquired a new position in shares of Richtech Robotics during the 2nd quarter worth about $29,000. 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.
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