Richtech Robotics (NASDAQ:RR) Shares Up 14.9% – Time to Buy?

Richtech Robotics Inc. (NASDAQ:RR) shot up 14.9% during trading on Wednesday . The company traded as high as $2.70 and last traded at $2.9530. 2,824,879 shares were traded during mid-day trading, a decline of 86% from the average session volume of 19,521,145 shares. The stock had previously closed at $2.57.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RR. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Richtech Robotics in a research note on Wednesday, February 18th. Wall Street Zen cut shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a research note on Friday, April 24th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Richtech Robotics currently has a consensus rating of “Hold” and an average price target of $6.00.

Richtech Robotics Stock Up 10.4%

The stock has a market cap of $610.24 million, a price-to-earnings ratio of -20.32 and a beta of -1.34. The firm’s 50 day moving average is $2.33 and its two-hundred day moving average is $3.23.

Insider Buying and Selling at Richtech Robotics

In related news, insider Matthew G. Casella sold 12,500 shares of Richtech Robotics stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $2.68, for a total transaction of $33,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in Richtech Robotics during the 4th quarter worth about $26,000. Russell Investments Group Ltd. acquired a new stake in shares of Richtech Robotics during the 3rd quarter valued at about $38,000. Virtue Capital Management LLC acquired a new stake in shares of Richtech Robotics during the 3rd quarter valued at about $43,000. Axxcess Wealth Management LLC acquired a new stake in shares of Richtech Robotics in the fourth quarter worth about $32,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Richtech Robotics in the fourth quarter worth about $33,000. 0.01% of the stock is 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.