Richtech Robotics (NASDAQ:RR) Downgraded to Sell Rating by Wall Street Zen

Richtech Robotics (NASDAQ:RR) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently issued reports on RR. Weiss Ratings reissued a “sell (d-)” rating on shares of Richtech Robotics in a research report on Tuesday, July 21st. Freedom Capital raised shares of Richtech Robotics from a “strong sell” rating to a “hold” rating in a report on Sunday, August 16th. One investment 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, Richtech Robotics presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Richtech Robotics Stock Down 6.2%

NASDAQ:RR traded down $0.12 during mid-day trading on Friday, reaching $1.83. 5,619,319 shares of the company were exchanged, compared to its average volume of 5,875,081. The company has a fifty day moving average of $1.73 and a 200 day moving average of $2.22. Richtech Robotics has a 12 month low of $1.30 and a 12 month high of $7.43. The stock has a market cap of $411.93 million, a PE ratio of -30.50 and a beta of -0.65.

Richtech Robotics announced that its Board of Directors has approved a share buyback program on Tuesday, August 25th that allows the company to buyback $12.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Richtech Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of Richtech Robotics during the 4th quarter worth $26,000. Russell Investments Group Ltd. purchased a new stake in Richtech Robotics in the third quarter worth $38,000. Axxcess Wealth Management LLC bought a new position in Richtech Robotics during the 4th quarter valued at approximately $32,000. Cibc World Markets Corp bought a new position in Richtech Robotics in the 4th quarter valued at approximately $33,000. Finally, B.O.S.S. Retirement Advisors LLC purchased a new position in Richtech Robotics in the 4th quarter worth about $33,000. Institutional investors 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.