Richtech Robotics (NASDAQ:RR) Stock Price Down 8.4% – What’s Next?

Richtech Robotics Inc. (NASDAQ:RR) shares dropped 8.4% during mid-day trading on Monday . The stock traded as low as $2.47 and last traded at $2.4550. Approximately 3,322,877 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 19,567,311 shares. The stock had previously closed at $2.68.

Analysts Set New Price Targets

Several research analysts have commented on RR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Richtech Robotics in a report on Friday, April 24th. Wall Street Zen cut shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Richtech Robotics in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Richtech Robotics Stock Performance

The company has a market cap of $528.07 million, a price-to-earnings ratio of -17.54 and a beta of -1.34. The firm’s 50-day moving average price is $2.34 and its 200 day moving average price is $3.16.

Insider Activity at Richtech Robotics

In other news, insider Matthew G. Casella sold 12,500 shares of Richtech Robotics stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $2.68, for a total value of $33,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 19.79% of the stock is currently owned by company insiders.

Institutional Trading of Richtech Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in Richtech Robotics in the fourth quarter valued at about $26,000. Russell Investments Group Ltd. acquired a new position in shares of Richtech Robotics in the third quarter worth approximately $38,000. Virtue Capital Management LLC bought a new stake in shares of Richtech Robotics in the 3rd quarter valued at $43,000. Axxcess Wealth Management LLC bought a new stake in shares of Richtech Robotics in the 4th quarter valued at $32,000. Finally, Cibc World Markets Corp bought a new position in Richtech Robotics during the fourth quarter worth $33,000. Institutional investors and hedge funds 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.