HC Wainwright Reaffirms “Buy” Rating for Richtech Robotics (NASDAQ:RR)

Richtech Robotics (NASDAQ:RR)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $6.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 37.30% from the company’s previous close.

RR has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Richtech Robotics in a research note on Monday, December 22nd. Wall Street Zen downgraded shares of Richtech Robotics from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Richtech Robotics presently has an average rating of “Hold” and an average price target of $4.50.

Richtech Robotics Stock Up 0.2%

NASDAQ:RR opened at $4.37 on Wednesday. The stock has a market capitalization of $655.02 million, a price-to-earnings ratio of -31.21 and a beta of -3.63. Richtech Robotics has a 52 week low of $1.37 and a 52 week high of $7.43. The firm has a 50 day moving average of $3.68 and a 200 day moving average of $3.59.

Richtech Robotics (NASDAQ:RR) last issued its quarterly earnings results on Tuesday, January 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. Richtech Robotics had a negative return on equity of 23.85% and a negative net margin of 366.21%.The business had revenue of $1.44 million for the quarter, compared to the consensus estimate of $1.31 million.

Institutional Investors Weigh In On Richtech Robotics

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Richtech Robotics by 164.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock worth $19,789,000 after buying an additional 2,865,386 shares during the period. Bank of America Corp DE boosted its holdings in shares of Richtech Robotics by 3,231.2% in the 2nd quarter. Bank of America Corp DE now owns 1,248,742 shares of the company’s stock valued at $2,435,000 after acquiring an additional 1,211,256 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Richtech Robotics by 128.9% in the second quarter. Geode Capital Management LLC now owns 1,463,608 shares of the company’s stock worth $2,854,000 after acquiring an additional 824,253 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Richtech Robotics in the first quarter worth $1,630,000. Finally, Raymond James Financial Inc. raised its holdings in shares of Richtech Robotics by 8,471.0% during the third quarter. Raymond James Financial Inc. now owns 504,830 shares of the company’s stock worth $2,166,000 after purchasing an additional 498,940 shares during the last quarter. 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.