Richtech Robotics (NASDAQ:RR) Issues Quarterly Earnings Results

Richtech Robotics (NASDAQ:RR) posted its quarterly earnings data on Wednesday. The company reported ($0.04) EPS for the quarter, FiscalAI reports. The company had revenue of $1.37 million for the quarter. Richtech Robotics had a negative net margin of 310.02% and a negative return on equity of 6.05%.

Richtech Robotics Trading Up 1.2%

NASDAQ:RR traded up $0.02 on Wednesday, hitting $1.63. 3,622,475 shares of the stock were exchanged, compared to its average volume of 15,334,225. The stock has a fifty day moving average of $1.79 and a 200-day moving average of $2.32. The stock has a market cap of $366.91 million, a PE ratio of -16.30 and a beta of -0.65. Richtech Robotics has a fifty-two week low of $1.30 and a fifty-two week high of $7.43.

Analyst Upgrades and Downgrades

Several research firms 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 research report on Sunday. Finally, Wall Street Zen raised shares of Richtech Robotics from a “strong sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.00.

Institutional Trading of Richtech Robotics

A number of institutional investors have recently modified their holdings of RR. Vanguard Group Inc. raised its stake in shares of Richtech Robotics by 164.0% in the 3rd 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 period. State Street Corp boosted its position in Richtech Robotics by 99.7% during the 4th quarter. State Street Corp now owns 4,446,247 shares of the company’s stock worth $14,361,000 after purchasing an additional 2,219,849 shares during the period. Bank of America Corp DE increased its holdings in Richtech Robotics by 738.8% in the 1st quarter. Bank of America Corp DE now owns 1,847,776 shares of the company’s stock valued at $3,862,000 after purchasing an additional 1,627,482 shares in the last quarter. Geode Capital Management LLC increased its holdings in Richtech Robotics by 73.5% in the 4th quarter. Geode Capital Management LLC now owns 3,586,863 shares of the company’s stock valued at $11,589,000 after purchasing an additional 1,519,613 shares in the last quarter. Finally, UBS Group AG raised its position in Richtech Robotics by 412.2% in the fourth quarter. UBS Group AG now owns 1,804,574 shares of the company’s stock valued at $5,829,000 after purchasing an additional 1,452,236 shares during the period. Hedge funds and other institutional investors own 0.01% of the company’s stock.

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.