Richtech Robotics (NASDAQ:RR) Stock Rating Lowered by Wall Street Zen

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

Other equities research analysts have also recently issued reports about the stock. Freedom Capital raised shares of Richtech Robotics from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Richtech Robotics in a report on Monday, October 19th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Richtech Robotics presently has an average rating of “Hold” and a consensus target price of $6.00.

Richtech Robotics Stock Up 6.2%

Shares of RR stock opened at $0.89 on Friday. Richtech Robotics has a 52 week low of $0.80 and a 52 week high of $5.60. The firm has a 50 day moving average of $1.47 and a 200-day moving average of $2.15.

Richtech Robotics announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 25th that authorizes the company to repurchase $12 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RR. R Squared Ltd bought a new stake in Richtech Robotics during the first quarter valued at approximately $25,000. Principal Financial Group Inc. acquired a new position in Richtech Robotics in the first quarter valued at approximately $27,000. AXQ Capital LP acquired a new stake in shares of Richtech Robotics in the second quarter worth $29,000. Griffin Asset Management Inc. bought a new position in shares of Richtech Robotics during the 1st quarter worth about $29,000. Finally, Abel Hall LLC acquired a new stake in Richtech Robotics in the third quarter worth $28,000. Institutional investors and hedge funds own 0.01% of the company’s stock.

About Richtech Robotics

Richtech Robotics Corporation (NASDAQ: RR) develops, manufactures and deploys service robots designed to support businesses in hospitality, healthcare, education, retail and other commercial settings. The company combines robotics, artificial intelligence and automation to help customers perform tasks such as food and beverage service, delivery, cleaning and material handling.

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