Richtech Robotics (NASDAQ:RR) Trading 9% Higher – What’s Next?

Richtech Robotics Inc. (NASDAQ:RR) shot up 9% during trading on Monday . The stock traded as high as $3.30 and last traded at $3.27. 17,400,162 shares traded hands during trading, a decline of 19% from the average session volume of 21,425,113 shares. The stock had previously closed at $3.00.

Analyst Ratings Changes

RR has been the topic of several recent research reports. Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a research report on Wednesday, October 8th. Finally, HC Wainwright increased their price target on Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.50.

Richtech Robotics Price Performance

The stock has a market capitalization of $490.14 million, a PE ratio of -19.23 and a beta of -4.14. The stock’s fifty day moving average is $4.76 and its 200-day moving average is $3.12.

Insider Buying and Selling at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of the 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 sale, the chief operating officer directly owned 1,000,000 shares of the company’s stock, valued at $5,110,000. This represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 19.79% of the company’s stock.

Hedge Funds Weigh In On Richtech Robotics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RR. Private Advisor Group LLC purchased a new stake in shares of Richtech Robotics during the first quarter worth about $25,000. Cary Street Partners Financial LLC boosted its holdings 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 buying an additional 26,000 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in Richtech Robotics in the 1st quarter worth about $40,000. WealthPlan Investment Management LLC purchased a new stake in Richtech Robotics during the 1st quarter worth approximately $257,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Richtech Robotics during the first quarter valued at approximately $122,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

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.