Richtech Robotics Sees Unusually Large Options Volume (NASDAQ:RR)

Richtech Robotics Inc. (NASDAQ:RR) was the target of unusually large options trading activity on Wednesday. Traders bought 74,500 call options on the company. This represents an increase of 48% compared to the average daily volume of 50,359 call options.

Hedge Funds Weigh In On Richtech Robotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Richtech Robotics by 164.0% in the third quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock valued at $19,789,000 after purchasing an additional 2,865,386 shares during the period. Geode Capital Management LLC raised its holdings in Richtech Robotics by 128.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock valued at $2,854,000 after acquiring an additional 824,253 shares during the period. Bank of America Corp DE lifted its position in shares of Richtech Robotics by 3,231.2% during the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company’s stock worth $2,435,000 after acquiring an additional 1,211,256 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Richtech Robotics by 3.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 896,059 shares of the company’s stock worth $3,844,000 after acquiring an additional 33,329 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of Richtech Robotics by 8,471.0% in the third quarter. Raymond James Financial Inc. now owns 504,830 shares of the company’s stock worth $2,166,000 after acquiring an additional 498,940 shares during the period. Institutional investors own 0.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RR shares. Wall Street Zen cut shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a report on Monday, December 22nd. Finally, HC Wainwright raised their price objective on Richtech Robotics from $3.50 to $6.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.50.

Richtech Robotics Stock Performance

NASDAQ:RR traded up $0.14 during trading hours on Wednesday, reaching $3.23. The stock had a trading volume of 33,464,614 shares, compared to its average volume of 22,045,480. The stock has a market cap of $484.14 million, a P/E ratio of -19.00 and a beta of -3.82. The stock has a 50 day simple moving average of $3.93 and a 200 day simple moving average of $3.39. Richtech Robotics has a 12-month low of $1.37 and a 12-month high of $7.43.

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.