Richtech Robotics (NASDAQ:RR) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Richtech Robotics (NASDAQ:RR) issued its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01, Zacks reports. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.The firm had revenue of $1.44 million during the quarter, compared to the consensus estimate of $1.31 million.

Richtech Robotics Trading Up 13.0%

Shares of NASDAQ:RR opened at $4.36 on Thursday. The stock has a market capitalization of $653.52 million, a P/E ratio of -31.14 and a beta of -3.63. The stock’s 50-day moving average price is $3.66 and its 200-day moving average price is $3.58. Richtech Robotics has a 12-month low of $1.37 and a 12-month high of $7.43.

Hedge Funds Weigh In On Richtech Robotics

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in shares of Richtech Robotics during the third quarter valued at approximately $38,000. Ausdal Financial Partners Inc. bought a new stake in Richtech Robotics during the 3rd quarter valued at $45,000. The Manufacturers Life Insurance Company purchased a new stake in Richtech Robotics during the 2nd quarter valued at $47,000. CIBC Bancorp USA Inc. bought a new stake in Richtech Robotics in the 3rd quarter worth $49,000. Finally, Victory Capital Management Inc. bought a new stake in Richtech Robotics in the 3rd quarter worth $51,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RR. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Richtech Robotics in a report on Wednesday. Wall Street Zen downgraded Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.50.

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.