Richtech Robotics Inc. (NASDAQ:RR) Short Interest Update

Richtech Robotics Inc. (NASDAQ:RR - Get Free Report) saw a significant decrease in short interest in October. As of October 15th, there was short interest totaling 15,370,000 shares, a decrease of 37.1% from the September 30th total of 24,420,000 shares. Currently, 10.4% of the company's shares are short sold. Based on an average trading volume of 39,060,000 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 39,060,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 10.4% of the company's shares are short sold.

Analysts Set New Price Targets

• Is Richtech Robotics the Next Big Name in Automation?

A number of equities analysts recently commented on the company. Weiss Ratings restated a "sell (e+)" rating on shares of Richtech Robotics in a report on Wednesday, October 8th. HC Wainwright upped their price target on Richtech Robotics from $3.50 to $6.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Finally, Wall Street Zen cut Richtech Robotics from a "hold" rating to a "sell" rating in a research note on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $4.50.

View Our Latest Research Report on Richtech Robotics

Insider Activity at Richtech Robotics

• Red Robin's Comeback: Q1 Earnings Spark Investor Hopes

In related news, COO Phil Zheng sold 100,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $5.11, for a total transaction of $511,000.00. Following the completion of the transaction, the chief operating officer owned 1,000,000 shares in the company, valued at $5,110,000. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Richtech Robotics

Institutional investors have recently modified their holdings of the stock. Sovereign Financial Group Inc. purchased a new stake in shares of Richtech Robotics in the third quarter worth $43,000. Virtue Capital Management LLC purchased a new stake in shares of Richtech Robotics in the third quarter worth $43,000. Brookstone Capital Management purchased a new stake in shares of Richtech Robotics in the third quarter worth $46,000. Park Avenue Securities LLC purchased a new stake in shares of Richtech Robotics in the third quarter worth $53,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Richtech Robotics in the first quarter worth $25,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

Richtech Robotics Price Performance

• NVIDIA’s AI Robot Leap: 2 Stocks Set to Ride the Wave

RR stock traded down $0.13 during midday trading on Friday, hitting $4.82. The stock had a trading volume of 19,910,893 shares, compared to its average volume of 55,507,412. The firm has a market cap of $722.47 million, a price-to-earnings ratio of -28.35 and a beta of -4.14. The business has a 50-day moving average of $4.59 and a two-hundred day moving average of $2.94. Richtech Robotics has a 52-week low of $0.52 and a 52-week high of $7.43.

Richtech Robotics (NASDAQ:RR - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.The company had revenue of $1.18 million for the quarter, compared to analysts' expectations of $1.42 million.

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.

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