Wall Street Zen Upgrades Richtech Robotics (NASDAQ:RR) to Hold

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

RR has been the topic of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Richtech Robotics in a research report on Tuesday, July 21st. Freedom Capital raised Richtech Robotics from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Richtech Robotics Stock Performance

Shares of Richtech Robotics stock opened at $1.29 on Friday. Richtech Robotics has a twelve month low of $1.28 and a twelve month high of $6.42. The stock has a market cap of $290.38 million, a price-to-earnings ratio of -21.50 and a beta of -0.46. The company has a fifty day moving average price of $1.68 and a 200 day moving average price of $2.01.

Richtech Robotics declared that its Board of Directors has approved a share repurchase program on Tuesday, August 25th that permits the company to buy back $12.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Richtech Robotics

Several large investors have recently modified their holdings of RR. Bank of America Corp DE increased its position in shares of Richtech Robotics by 738.8% during the first quarter. Bank of America Corp DE now owns 1,847,776 shares of the company’s stock worth $3,862,000 after acquiring an additional 1,627,482 shares during the last quarter. Themes Management Co LLC lifted its stake in shares of Richtech Robotics by 473.1% in the first quarter. Themes Management Co LLC now owns 467,030 shares of the company’s stock worth $976,000 after acquiring an additional 385,544 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Richtech Robotics in the second quarter worth about $339,000. Vontobel Holding Ltd. boosted its holdings in Richtech Robotics by 18.5% in the third quarter. Vontobel Holding Ltd. now owns 494,582 shares of the company’s stock valued at $781,000 after purchasing an additional 77,220 shares during the last quarter. Finally, J. Derek Lewis & Associates Inc. purchased a new position in Richtech Robotics in the fourth quarter valued at about $153,000. 0.01% of the stock is currently owned by institutional investors and hedge funds.

Richtech Robotics Company Profile

Richtech Robotics Inc (NASDAQ: RR) develops, manufactures and sells service robots and related artificial intelligence technologies. The company focuses on automating routine tasks in hospitality, food service, healthcare and other commercial environments, with offerings designed to support staff and improve operational efficiency.

Its product portfolio includes ADAM, a robotic beverage and service platform; Matradee, an autonomous food-delivery robot; and DUST-E, a robotic floor-cleaning system.