Richtech Robotics (NASDAQ:RR) Stock Price Up 4.6% – Still a Buy?

Richtech Robotics Inc. (NASDAQ:RR) shares were up 4.6% during trading on Wednesday . The company traded as high as $3.65 and last traded at $3.5250. Approximately 6,999,906 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 22,047,822 shares. The stock had previously closed at $3.37.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RR shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Richtech Robotics in a research note on Monday. HC Wainwright raised their price target 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. Finally, Wall Street Zen lowered Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Price Performance

The company has a market cap of $537.36 million, a price-to-earnings ratio of -21.09 and a beta of -3.82. The stock has a 50 day simple moving average of $4.16 and a two-hundred day simple moving average of $3.34.

Institutional Trading of Richtech Robotics

Several hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC purchased a new position in Richtech Robotics in the second quarter worth approximately $28,000. Delos Wealth Advisors LLC purchased a new position in shares of Richtech Robotics during the 2nd quarter worth approximately $29,000. RiverGlades Family Offices LLC acquired a new stake in Richtech Robotics in the 2nd quarter valued at approximately $32,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Richtech Robotics in the second quarter valued at approximately $33,000. Finally, Russell Investments Group Ltd. acquired a new position in Richtech Robotics during the third quarter worth $38,000. Hedge funds and other institutional investors own 0.01% of the company’s stock.

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.