Richtech Robotics (NASDAQ:RR) Shares Down 5.7% – Here’s What Happened

Shares of Richtech Robotics Inc. (NASDAQ:RR) traded down 5.7% during trading on Monday . The company traded as low as $4.21 and last traded at $4.2050. 5,668,822 shares changed hands during trading, a decline of 74% from the average session volume of 21,858,928 shares. The stock had previously closed at $4.46.

Analyst Ratings Changes

RR has been the topic of several analyst 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 reissued a “sell (d-)” rating on shares of Richtech Robotics in a research note on Monday, December 1st. Finally, HC Wainwright boosted their price objective on Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Richtech Robotics presently has an average rating of “Hold” and an average target price of $4.50.

Richtech Robotics Price Performance

The stock has a market cap of $637.78 million, a PE ratio of -25.03 and a beta of -3.79. The business has a fifty day moving average of $4.65 and a 200-day moving average of $3.22.

Insider Buying and Selling at Richtech Robotics

In other news, COO Phil Zheng sold 100,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $5.11, for a total transaction of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares of the company’s stock, valued at approximately $5,110,000. This represents a 9.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.79% of the company’s stock.

Institutional Trading of Richtech Robotics

Hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC bought a new position in Richtech Robotics during the 2nd quarter worth about $28,000. Delos Wealth Advisors LLC purchased a new stake in shares of Richtech Robotics in the 2nd quarter worth approximately $29,000. RiverGlades Family Offices LLC purchased a new stake in shares of Richtech Robotics in the 2nd quarter worth approximately $32,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Richtech Robotics during the second quarter valued at approximately $33,000. Finally, Russell Investments Group Ltd. purchased a new position in Richtech Robotics during the third quarter valued at approximately $38,000. 0.01% of the stock is owned by hedge funds and other 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.