Richtech Robotics (NASDAQ:RR) Shares Up 14.9% – Time to Buy?

Richtech Robotics Inc. (NASDAQ:RR)’s stock price was up 14.9% during mid-day trading on Wednesday . The stock traded as high as $2.70 and last traded at $2.9530. Approximately 2,824,879 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 19,521,145 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Richtech Robotics in a research note on Friday, April 24th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Richtech Robotics in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Richtech Robotics presently has a consensus rating of “Hold” and an average target price of $6.00.

Richtech Robotics Trading Up 10.4%

The company has a 50 day moving average price of $2.33 and a 200-day moving average price of $3.23. The company has a market cap of $610.24 million, a P/E ratio of -20.32 and a beta of -1.34.

Insider Buying and Selling

In related news, insider Matthew G. Casella sold 12,500 shares of Richtech Robotics stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $2.68, for a total transaction of $33,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 19.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Richtech Robotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its position in shares of Richtech Robotics by 22.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 15,542 shares of the company’s stock worth $67,000 after purchasing an additional 2,842 shares during the period. DNB Asset Management AS raised its position in shares of Richtech Robotics by 9.9% during the third quarter. DNB Asset Management AS now owns 43,858 shares of the company’s stock worth $188,000 after purchasing an additional 3,939 shares during the period. Two Sigma Investments LP raised its position in shares of Richtech Robotics by 14.3% during the third quarter. Two Sigma Investments LP now owns 35,473 shares of the company’s stock worth $152,000 after purchasing an additional 4,429 shares during the period. Delos Wealth Advisors LLC boosted its stake in shares of Richtech Robotics by 30.0% in the 3rd quarter. Delos Wealth Advisors LLC now owns 19,500 shares of the company’s stock worth $84,000 after buying an additional 4,500 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Richtech Robotics by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 408,024 shares of the company’s stock valued at $853,000 after buying an additional 4,542 shares in the last quarter. Institutional investors and hedge funds own 0.01% of the company’s stock.

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.