Richtech Robotics (NASDAQ:RR) Trading Down 3.7% – What’s Next?

Richtech Robotics Inc. (NASDAQ:RR) shares fell 3.7% during mid-day trading on Friday . The stock traded as low as $1.54 and last traded at $1.55. Approximately 7,092,266 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 7,551,410 shares. The stock had previously closed at $1.61.

Analyst Upgrades and Downgrades

RR has been the topic of a number of research analyst reports. Wall Street Zen upgraded Richtech Robotics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Richtech Robotics in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Richtech Robotics has an average rating of “Hold” and an average target price of $6.00.

Richtech Robotics Trading Down 3.7%

The firm has a market capitalization of $333.40 million, a P/E ratio of -11.07 and a beta of -0.84. The business has a 50-day moving average of $2.19 and a 200 day moving average of $2.62.

Institutional Investors Weigh In On Richtech Robotics

Hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Richtech Robotics during the first quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in Richtech Robotics in the 4th quarter valued at $26,000. Principal Financial Group Inc. bought a new stake in Richtech Robotics during the 1st quarter valued at $27,000. Griffin Asset Management Inc. bought a new stake in Richtech Robotics during the 1st quarter valued at $29,000. Finally, Axxcess Wealth Management LLC acquired a new position in Richtech Robotics during the fourth quarter worth $32,000. Institutional investors 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.