Richtech Robotics (RR) Expected to Announce Quarterly Earnings on Tuesday

Richtech Robotics (NASDAQ:RR) is expected to issue its results before the market opens on Tuesday, November 11th. Analysts expect the company to announce earnings of ($0.03) per share and revenue of $1.3490 million for the quarter.

Richtech Robotics (NASDAQ:RR) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.42 million. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.

Richtech Robotics Price Performance

RR traded down $0.36 during trading on Tuesday, hitting $4.09. The company’s stock had a trading volume of 12,134,793 shares, compared to its average volume of 21,445,492. The firm’s 50 day moving average price is $4.63 and its 200-day moving average price is $2.97. The stock has a market cap of $612.30 million, a PE ratio of -24.20 and a beta of -4.14. Richtech Robotics has a twelve month low of $0.52 and a twelve month high of $7.43.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RR shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a report on Wednesday, October 8th. HC Wainwright boosted their price target on Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Wall Street Zen downgraded Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Richtech Robotics currently has a consensus rating of “Hold” and a consensus price target of $4.50.

Insider Activity

In related news, COO Phil Zheng sold 100,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $5.11, for a total transaction of $511,000.00. Following the completion of the sale, the chief operating officer directly owned 1,000,000 shares of the company’s stock, valued at approximately $5,110,000. This represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.79% of the stock is owned by corporate insiders.

Institutional Trading of Richtech Robotics

Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new stake in Richtech Robotics during the 2nd quarter worth $47,000. Invesco Ltd. purchased a new stake in Richtech Robotics during the 2nd quarter worth $71,000. New York State Common Retirement Fund purchased a new stake in Richtech Robotics during the 2nd quarter worth $95,000. JPMorgan Chase & Co. boosted its position in Richtech Robotics by 71.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 78,489 shares of the company’s stock worth $153,000 after purchasing an additional 32,684 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in Richtech Robotics during the 1st quarter worth $459,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

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.