Richtech Robotics (NASDAQ:RR) Announces Quarterly Earnings Results

Richtech Robotics (NASDAQ:RR) announced its quarterly earnings data on Wednesday. The company reported ($0.04) EPS for the quarter, FiscalAI reports. The business had revenue of $1.37 million for the quarter. Richtech Robotics had a negative net margin of 310.02% and a negative return on equity of 6.05%.

Richtech Robotics Trading Up 1.2%

Richtech Robotics stock opened at $1.63 on Thursday. The firm has a market cap of $366.91 million, a PE ratio of -16.30 and a beta of -0.65. Richtech Robotics has a 12 month low of $1.30 and a 12 month high of $7.43. The stock’s 50 day simple moving average is $1.78 and its two-hundred day simple moving average is $2.30.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RR. Freedom Capital raised shares of Richtech Robotics from a “strong sell” rating to a “hold” rating in a report on Sunday. Wall Street Zen raised shares of Richtech Robotics from a “strong sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Richtech Robotics in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.00.

Hedge Funds Weigh In On Richtech Robotics

Several large investors have recently made changes to their positions in the company. Two Sigma Investments LP boosted its holdings in Richtech Robotics by 14.3% during the third quarter. Two Sigma Investments LP now owns 35,473 shares of the company’s stock worth $152,000 after buying an additional 4,429 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Richtech Robotics by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 408,024 shares of the company’s stock valued at $853,000 after buying an additional 4,542 shares in the last quarter. WealthPlan Investment Management LLC raised its position in shares of Richtech Robotics by 3.9% in the fourth quarter. WealthPlan Investment Management LLC now owns 133,162 shares of the company’s stock worth $430,000 after acquiring an additional 5,060 shares during the period. Royal Bank of Canada raised its position in shares of Richtech Robotics by 32.3% in the first quarter. Royal Bank of Canada now owns 21,097 shares of the company’s stock worth $43,000 after acquiring an additional 5,151 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Richtech Robotics by 26.2% in the first quarter. Cetera Investment Advisers now owns 28,138 shares of the company’s stock worth $59,000 after acquiring an additional 5,833 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.