Richtech Robotics (NASDAQ:RR) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Richtech Robotics (NASDAQ:RR) announced its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01, Zacks reports. Richtech Robotics had a negative net margin of 366.21% and a negative return on equity of 23.85%.

Richtech Robotics Price Performance

Shares of NASDAQ RR traded up $0.29 during trading on Tuesday, reaching $4.17. 16,798,320 shares of the stock traded hands, compared to its average volume of 28,942,369. The stock has a market capitalization of $625.64 million, a P/E ratio of -24.20 and a beta of -3.63. Richtech Robotics has a 52-week low of $1.37 and a 52-week high of $7.43. The company has a 50-day moving average of $3.64 and a 200-day moving average of $3.57.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Richtech Robotics by 164.0% during the third quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock worth $19,789,000 after buying an additional 2,865,386 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Richtech Robotics by 128.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock valued at $2,854,000 after acquiring an additional 824,253 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Richtech Robotics by 3,231.2% during the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company’s stock worth $2,435,000 after purchasing an additional 1,211,256 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Richtech Robotics by 3.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 896,059 shares of the company’s stock worth $3,844,000 after purchasing an additional 33,329 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Richtech Robotics by 8,471.0% in the third quarter. Raymond James Financial Inc. now owns 504,830 shares of the company’s stock worth $2,166,000 after purchasing an additional 498,940 shares during the last quarter. 0.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on RR. Wall Street Zen cut Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a report on Monday, December 22nd. 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, the company presently has a consensus rating of “Hold” and an average target price of $4.50.

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.