Richtech Robotics (NASDAQ:RR) Stock Price Down 6.5% – Should You Sell?

Richtech Robotics Inc. (NASDAQ:RR) traded down 6.5% on Wednesday . The company traded as low as $3.62 and last traded at $3.6540. 4,344,374 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 27,518,375 shares. The stock had previously closed at $3.91.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a research report on Monday, December 22nd. Wall Street Zen lowered Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Finally, HC Wainwright raised their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Stock Up 2.4%

The stock has a market capitalization of $581.57 million, a PE ratio of -22.82 and a beta of -3.63. The firm has a 50 day moving average price of $3.64 and a 200-day moving average price of $3.53.

Hedge Funds Weigh In On Richtech Robotics

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Richtech Robotics during the 1st quarter worth $1,630,000. Goldman Sachs Group Inc. purchased a new stake in shares of Richtech Robotics during the 1st quarter valued at approximately $459,000. Capital Advisors Inc. OK purchased a new stake in shares of Richtech Robotics during the 2nd quarter valued at approximately $195,000. Vontobel Holding Ltd. acquired a new position in Richtech Robotics in the second quarter valued at about $143,000. Finally, WealthPlan Investment Management LLC increased its position in shares of Richtech Robotics by 11.1% during the second quarter. WealthPlan Investment Management LLC now owns 144,313 shares of the company’s stock valued at $281,000 after acquiring an additional 14,450 shares during the last quarter. 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.