Richtech Robotics (NASDAQ:RR) Shares Down 8.5% – What’s Next?

Shares of Richtech Robotics Inc. (NASDAQ:RR) were down 8.5% on Friday . The stock traded as low as $3.28 and last traded at $3.34. Approximately 5,891,300 shares were traded during trading, a decline of 73% from the average daily volume of 22,018,619 shares. The stock had previously closed at $3.65.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RR shares. Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a research note on Monday. Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, HC Wainwright raised their target price on shares of Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Richtech Robotics presently has a consensus rating of “Hold” and an average price target of $4.50.

Richtech Robotics Trading Down 7.5%

The company has a market cap of $505.88 million, a P/E ratio of -19.91 and a beta of -3.82. The company has a 50 day moving average price of $4.07 and a 200-day moving average price of $3.35.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RR. Vanguard Group Inc. boosted its stake in shares of Richtech Robotics by 164.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock valued at $19,789,000 after purchasing an additional 2,865,386 shares in the last quarter. Geode Capital Management LLC lifted its stake in Richtech Robotics by 128.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock valued at $2,854,000 after purchasing an additional 824,253 shares during the last quarter. Bank of America Corp DE boosted its position in Richtech Robotics by 3,231.2% in the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company’s stock valued at $2,435,000 after buying an additional 1,211,256 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 buying an additional 33,329 shares in the last quarter. Finally, Raymond James Financial Inc. grew 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 buying an additional 498,940 shares during the last quarter. 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.