Richtech Robotics (NASDAQ:RR) Trading Down 8.4% – What’s Next?

Shares of Richtech Robotics Inc. (NASDAQ:RR) fell 8.4% during mid-day trading on Monday . The stock traded as low as $2.47 and last traded at $2.4550. 3,322,877 shares changed hands during trading, a decline of 83% from the average session volume of 19,567,311 shares. The stock had previously closed at $2.68.

Wall Street Analysts Forecast Growth

RR has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a report on Friday, April 24th. Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Finally, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Richtech Robotics in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.00.

Richtech Robotics Trading Down 5.9%

The stock has a fifty day moving average of $2.34 and a 200-day moving average of $3.12. The firm has a market capitalization of $511.93 million, a price-to-earnings ratio of -17.00 and a beta of -1.34.

Insiders Place Their Bets

In other Richtech Robotics news, insider Matthew G. Casella sold 12,500 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was 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 is available at this hyperlink. Corporate insiders own 19.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Richtech Robotics by 164.0% during the third quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock valued at $19,789,000 after acquiring an additional 2,865,386 shares during the period. State Street Corp boosted its stake in Richtech Robotics by 99.7% in the 4th quarter. State Street Corp now owns 4,446,247 shares of the company’s stock worth $14,361,000 after purchasing an additional 2,219,849 shares during the period. Bank of America Corp DE boosted its stake in Richtech Robotics by 738.8% in the 1st quarter. Bank of America Corp DE now owns 1,847,776 shares of the company’s stock worth $3,862,000 after purchasing an additional 1,627,482 shares during the period. Geode Capital Management LLC grew its position in Richtech Robotics by 73.5% during the 4th quarter. Geode Capital Management LLC now owns 3,586,863 shares of the company’s stock worth $11,589,000 after purchasing an additional 1,519,613 shares in the last quarter. Finally, UBS Group AG raised its stake in Richtech Robotics by 412.2% during the 4th quarter. UBS Group AG now owns 1,804,574 shares of the company’s stock valued at $5,829,000 after purchasing an additional 1,452,236 shares during the period. 0.01% of the stock is currently owned by institutional investors and hedge funds.

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.