Richtech Robotics (NASDAQ:RR) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Richtech Robotics (NASDAQ:RR) from a strong sell rating to a hold rating in a research report report published on Saturday morning.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Richtech Robotics has a consensus rating of “Hold” and an average price target of $6.00.

Richtech Robotics Trading Up 4.7%

Shares of Richtech Robotics stock opened at $1.80 on Friday. The business’s fifty day moving average price is $1.82 and its 200 day moving average price is $2.38. Richtech Robotics has a twelve month low of $1.30 and a twelve month high of $7.43. The stock has a market capitalization of $387.18 million, a P/E ratio of -18.00 and a beta of -0.65.

Institutional Trading of Richtech Robotics

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Richtech Robotics in the first quarter valued at about $1,630,000. Goldman Sachs Group Inc. acquired a new stake in shares of Richtech Robotics in the first quarter valued at about $459,000. Geode Capital Management LLC grew its stake in shares of Richtech Robotics by 128.9% in the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock valued at $2,854,000 after buying an additional 824,253 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Richtech Robotics by 71.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 78,489 shares of the company’s stock valued at $153,000 after buying an additional 32,684 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in shares of Richtech Robotics during the 2nd quarter valued at about $95,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

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.