Richtech Robotics (NASDAQ:RR) Shares Gap Down – Should You Sell?

Richtech Robotics Inc. (NASDAQ:RR)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.44, but opened at $4.07. Richtech Robotics shares last traded at $4.1850, with a volume of 8,017,014 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Richtech Robotics in a research note on Wednesday, October 8th. HC Wainwright lifted their price objective on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Finally, Wall Street Zen cut shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.50.

Richtech Robotics Stock Performance

The company’s fifty day moving average price is $4.63 and its 200-day moving average price is $2.97. The stock has a market cap of $607.80 million, a P/E ratio of -23.85 and a beta of -4.14.

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

Insiders Place Their Bets

In related 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 transaction of $511,000.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 19.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new stake in Richtech Robotics during the 1st quarter valued at about $459,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Richtech Robotics in the 1st quarter valued at about $40,000. Bogart Wealth LLC bought a new stake in shares of Richtech Robotics in the 2nd quarter valued at about $117,000. Vontobel Holding Ltd. bought a new stake in shares of Richtech Robotics in the 2nd quarter valued at about $143,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Richtech Robotics in the 1st quarter valued at about $51,000. Institutional investors own 0.01% of the company’s stock.

About Richtech Robotics

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.