Stock Traders Buy High Volume of Call Options on Richtech Robotics (NASDAQ:RR)

Richtech Robotics Inc. (NASDAQ:RR) saw some unusual options trading activity on Tuesday. Investors purchased 26,355 call options on the stock. This represents an increase of 62% compared to the typical volume of 16,269 call options.

Richtech Robotics Trading Up 18.8%

Shares of NASDAQ:RR traded up $0.30 on Tuesday, hitting $1.93. 10,320,613 shares of the company were exchanged, compared to its average volume of 15,097,092. Richtech Robotics has a 1-year low of $1.30 and a 1-year high of $7.43. The firm has a market capitalization of $433.32 million, a P/E ratio of -31.90 and a beta of -0.65. The stock’s 50 day moving average price is $1.75 and its 200 day moving average price is $2.26.

Institutional Investors Weigh In On Richtech Robotics

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Richtech Robotics by 164.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock worth $19,789,000 after acquiring an additional 2,865,386 shares in the last quarter. State Street Corp raised its position in Richtech Robotics by 99.7% in the fourth quarter. State Street Corp now owns 4,446,247 shares of the company’s stock valued at $14,361,000 after purchasing an additional 2,219,849 shares during the period. Bank of America Corp DE increased its stake in Richtech Robotics by 738.8% during the 1st quarter. Bank of America Corp DE now owns 1,847,776 shares of the company’s stock worth $3,862,000 after buying an additional 1,627,482 shares during the period. Geode Capital Management LLC increased its position in shares of Richtech Robotics by 73.5% in the 4th quarter. Geode Capital Management LLC now owns 3,586,863 shares of the company’s stock valued at $11,589,000 after purchasing an additional 1,519,613 shares during the last quarter. Finally, UBS Group AG raised its holdings in Richtech Robotics by 412.2% during the fourth quarter. UBS Group AG now owns 1,804,574 shares of the company’s stock worth $5,829,000 after purchasing an additional 1,452,236 shares in the last quarter. Hedge funds and other institutional investors own 0.01% of the company’s stock.

Analyst Ratings Changes

RR has been the subject of a number of analyst reports. Freedom Capital raised shares of Richtech Robotics from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded Richtech Robotics from a “strong sell” rating to a “hold” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.00.

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.