Richtech Robotics (NASDAQ:RR) Stock Price Down 7.4% – Time to Sell?

Richtech Robotics Inc. (NASDAQ:RR)’s stock price dropped 7.4% during mid-day trading on Friday . The stock traded as low as $4.08 and last traded at $4.0450. Approximately 4,612,577 shares were traded during trading, a decline of 86% from the average daily volume of 33,592,113 shares. The stock had previously closed at $4.37.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RR. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Richtech Robotics in a report on Wednesday. Wall Street Zen cut shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.50.

Richtech Robotics Trading Down 1.5%

The business’s fifty day simple moving average is $3.68 and its 200 day simple moving average is $3.59. The stock has a market cap of $645.28 million, a price-to-earnings ratio of -30.68 and a beta of -3.63.

Richtech Robotics (NASDAQ:RR) last released its quarterly earnings data on Tuesday, January 20th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $1.44 million for the quarter, compared to analysts’ expectations of $1.31 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Institutional Investors Weigh In On Richtech Robotics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Richtech Robotics by 164.0% during the 3rd 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 during the period. Geode Capital Management LLC lifted its position in Richtech Robotics by 128.9% during the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock worth $2,854,000 after acquiring an additional 824,253 shares during the last quarter. Bank of America Corp DE boosted 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 acquiring an additional 1,211,256 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $3,844,000 after purchasing an additional 33,329 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Richtech Robotics by 8,471.0% during 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 period. 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.