Richtech Robotics (NASDAQ:RR) Stock Price Up 7.1% – Still a Buy?

Richtech Robotics Inc. (NASDAQ:RR) shares rose 7.1% during mid-day trading on Thursday . The stock traded as high as $2.61 and last traded at $2.6350. Approximately 1,548,953 shares changed hands during trading, a decline of 92% from the average daily volume of 19,214,494 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

RR has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Richtech Robotics in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Richtech Robotics in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Richtech Robotics currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Richtech Robotics Price Performance

The company has a market cap of $576.47 million, a PE ratio of -19.14 and a beta of -1.34. The stock’s 50 day simple moving average is $2.35 and its two-hundred day simple moving average is $3.09.

Hedge Funds Weigh In On Richtech Robotics

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