Richtech Robotics (NASDAQ:RR) Shares Down 2.2% – Should You Sell?

Shares of Richtech Robotics Inc. (NASDAQ:RR) fell 2.2% during trading on Wednesday . The company traded as low as $3.50 and last traded at $3.55. 15,443,177 shares were traded during mid-day trading, a decline of 28% from the average session volume of 21,449,916 shares. The stock had previously closed at $3.63.

Wall Street Analysts Forecast Growth

RR has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. HC Wainwright raised their price target on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Richtech Robotics in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Richtech Robotics has a consensus rating of “Hold” and a consensus target price of $4.50.

Richtech Robotics Stock Down 2.2%

The company has a market cap of $532.12 million, a PE ratio of -20.88 and a beta of -4.14. The business has a 50-day simple moving average of $4.72 and a 200-day simple moving average of $3.05.

Richtech Robotics (NASDAQ:RR) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $1.18 million during the quarter, compared to analyst estimates of $1.42 million. Richtech Robotics had a negative net margin of 366.21% and a negative return on equity of 23.85%.

Insider Buying and Selling at Richtech Robotics

In related news, COO Phil Zheng sold 100,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the completion of the transaction, the chief operating officer owned 1,000,000 shares in the company, valued at $5,110,000. This represents a 9.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Richtech Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in RR. Victory Capital Management Inc. acquired a new stake in shares of Richtech Robotics in the third quarter worth approximately $51,000. DNB Asset Management AS boosted its position in shares of Richtech Robotics by 9.9% during the 3rd quarter. DNB Asset Management AS now owns 43,858 shares of the company’s stock valued at $188,000 after acquiring an additional 3,939 shares during the last quarter. X Square Capital LLC acquired a new stake in shares of Richtech Robotics during the 3rd quarter worth approximately $1,717,000. Clear Creek Financial Management LLC purchased a new stake in Richtech Robotics in the third quarter valued at $453,000. Finally, Vanguard Group Inc. lifted its position in Richtech Robotics by 164.0% in the third quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock valued at $19,789,000 after buying an additional 2,865,386 shares during the last quarter. 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.