Investors Buy Large Volume of Richtech Robotics Call Options (NASDAQ:RR)

Richtech Robotics Inc. (NASDAQ:RR) was the target of unusually large options trading on Wednesday. Stock investors acquired 111,102 call options on the company. This represents an increase of 117% compared to the average daily volume of 51,257 call options.

Analyst Ratings Changes

Several research analysts have issued reports on RR shares. Wall Street Zen lowered Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Richtech Robotics in a research report on Monday. Finally, HC Wainwright increased their target price on Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.50.

Richtech Robotics Stock Performance

NASDAQ RR opened at $4.59 on Friday. Richtech Robotics has a fifty-two week low of $0.73 and a fifty-two week high of $7.43. The stock has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $3.19. The stock has a market cap of $688.00 million, a P/E ratio of -27.00 and a beta of -3.82.

Insiders Place Their Bets

In other Richtech Robotics news, COO Phil Zheng sold 100,000 shares of the business’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 value of $511,000.00. Following the transaction, the chief operating officer directly owned 1,000,000 shares of the company’s stock, valued at approximately $5,110,000. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.79% of the company’s stock.

Institutional Trading of Richtech Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RR. Concurrent Investment Advisors LLC boosted its holdings in Richtech Robotics by 22.4% in the third quarter. Concurrent Investment Advisors LLC now owns 15,542 shares of the company’s stock valued at $67,000 after acquiring an additional 2,842 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Richtech Robotics by 9.9% in the 3rd quarter. DNB Asset Management AS now owns 43,858 shares of the company’s stock worth $188,000 after purchasing an additional 3,939 shares during the period. Two Sigma Investments LP lifted its position in shares of Richtech Robotics by 14.3% in the 3rd quarter. Two Sigma Investments LP now owns 35,473 shares of the company’s stock worth $152,000 after purchasing an additional 4,429 shares during the period. Delos Wealth Advisors LLC boosted its stake in shares of Richtech Robotics by 30.0% during the 3rd quarter. Delos Wealth Advisors LLC now owns 19,500 shares of the company’s stock valued at $84,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Richtech Robotics during the third quarter valued at about $38,000. Hedge funds and other institutional investors own 0.01% of the company’s stock.

About Richtech Robotics

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.