Richtech Robotics (NASDAQ:RR) Stock Price Down 9.1% – Here’s Why

Richtech Robotics Inc. (NASDAQ:RR) shares were down 9.1% during mid-day trading on Friday . The stock traded as low as $2.90 and last traded at $2.9550. Approximately 5,311,110 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 19,400,094 shares. The stock had previously closed at $3.25.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RR shares. Wall Street Zen cut Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Richtech Robotics in a research note on Friday, April 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Richtech Robotics has an average rating of “Hold” and a consensus price target of $6.00.

Richtech Robotics Trading Down 8.3%

The firm has a 50 day moving average price of $2.42 and a 200-day moving average price of $3.06. The firm has a market cap of $641.21 million, a PE ratio of -21.32 and a beta of -1.34.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RR. R Squared Ltd acquired a new position in Richtech Robotics during the first quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in Richtech Robotics during the fourth quarter worth approximately $26,000. Principal Financial Group Inc. acquired a new position in Richtech Robotics during the first quarter worth approximately $27,000. Griffin Asset Management Inc. acquired a new position in Richtech Robotics during the first quarter worth approximately $29,000. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Richtech Robotics during the fourth quarter worth about $32,000. Institutional investors and hedge funds 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.