Exchange Traded Concepts LLC Invests $923,000 in Richtech Robotics Inc. $RR

Exchange Traded Concepts LLC purchased a new position in shares of Richtech Robotics Inc. (NASDAQ:RR) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 215,203 shares of the company’s stock, valued at approximately $923,000.

A number of other hedge funds also recently bought and sold shares of RR. Geode Capital Management LLC lifted its stake in Richtech Robotics by 128.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock worth $2,854,000 after purchasing an additional 824,253 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Richtech Robotics by 3,231.2% in the second quarter. Bank of America Corp DE now owns 1,248,742 shares of the company’s stock valued at $2,435,000 after purchasing an additional 1,211,256 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Richtech Robotics by 4.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 862,730 shares of the company’s stock worth $1,682,000 after buying an additional 39,249 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Richtech Robotics during the first quarter worth $703,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Richtech Robotics in the 2nd quarter valued at $526,000. Institutional investors and hedge funds own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RR. HC Wainwright raised their target price on Richtech Robotics from $3.50 to $6.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Richtech Robotics in a research report on Monday, December 22nd. Finally, Wall Street Zen lowered shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.50.

Richtech Robotics Stock Performance

Richtech Robotics stock opened at $3.36 on Monday. The company’s 50 day simple moving average is $4.02 and its 200-day simple moving average is $3.37. Richtech Robotics Inc. has a 1 year low of $1.37 and a 1 year high of $7.43. The company has a market capitalization of $503.63 million, a price-to-earnings ratio of -19.76 and a beta of -3.79.

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.