Richtech Robotics (NASDAQ:RR) Trading Up 10.8% - Should You Buy?

Shares of Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) rose 10.8% on Thursday . The stock traded as high as $4.60 and last traded at $4.6750. Approximately 31,926,974 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 21,613,076 shares. The stock had previously closed at $4.22.

Analyst Ratings Changes

• Is Richtech Robotics the Next Big Name in Automation?

A number of brokerages have commented on RR. Wall Street Zen lowered shares of Richtech Robotics from a "hold" rating to a "sell" rating in a report on Sunday, October 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Richtech Robotics in a research report on Monday. Finally, HC Wainwright upped their price target on Richtech Robotics from $3.50 to $6.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $4.50.

Read Our Latest Stock Analysis on RR

Richtech Robotics Stock Up 10.8%

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The company's fifty day moving average price is $4.63 and its two-hundred day moving average price is $3.18. The company has a market cap of $700.74 million, a price-to-earnings ratio of -27.32 and a beta of -3.82.

Insider Activity

In related news, COO Phil Zheng sold 100,000 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the transaction, the chief operating officer owned 1,000,000 shares in the company, valued at $5,110,000. This represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 19.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

• NVIDIA’s AI Robot Leap: 2 Stocks Set to Ride the Wave

Several hedge funds have recently modified their holdings of the business. ProShare Advisors LLC acquired a new position in Richtech Robotics in the second quarter valued at approximately $28,000. Delos Wealth Advisors LLC bought a new position in shares of Richtech Robotics in the 2nd quarter worth $29,000. RiverGlades Family Offices LLC bought a new stake in Richtech Robotics in the second quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Richtech Robotics in the second quarter valued at about $33,000. Finally, Russell Investments Group Ltd. bought a new position in Richtech Robotics during the third quarter worth about $38,000. 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.

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