Richtech Robotics (NASDAQ:RR) Given Buy Rating at HC Wainwright

Richtech Robotics (NASDAQ:RR)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $6.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 55.44% from the company’s current price.

Several other research firms have also issued reports on RR. Wall Street Zen lowered shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Weiss Ratings reissued 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Richtech Robotics has a consensus rating of “Hold” and an average price target of $4.50.

Richtech Robotics Stock Down 0.5%

Richtech Robotics stock opened at $3.86 on Wednesday. Richtech Robotics has a twelve month low of $1.37 and a twelve month high of $7.43. The company has a 50 day moving average of $3.64 and a 200-day moving average of $3.58. The stock has a market capitalization of $578.59 million, a PE ratio of -22.70 and a beta of -3.63.

Richtech Robotics (NASDAQ:RR) last announced its earnings results on Tuesday, January 20th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. Richtech Robotics had a negative net margin of 366.21% and a negative return on equity of 23.85%.

Hedge Funds Weigh In On Richtech Robotics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RR. Vanguard Group Inc. raised its stake in shares of Richtech Robotics by 164.0% during the third quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock valued at $19,789,000 after acquiring an additional 2,865,386 shares during the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 824,253 shares during the period. Bank of America Corp DE boosted its position in 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 valued at $2,435,000 after acquiring an additional 1,211,256 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Richtech Robotics by 3.9% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 896,059 shares of the company’s stock worth $3,844,000 after purchasing an additional 33,329 shares during the period. Finally, Raymond James Financial Inc. grew its position in shares of Richtech Robotics by 8,471.0% during the 3rd quarter. Raymond James Financial Inc. now owns 504,830 shares of the company’s stock worth $2,166,000 after buying an additional 498,940 shares during the period. 0.01% of the stock is currently owned by institutional investors and hedge funds.

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.