Richtech Robotics (NASDAQ:RR) Stock Price Up 8% Following Strong Earnings

Richtech Robotics Inc. (NASDAQ:RR) shares rose 8% on Wednesday following a stronger than expected earnings report. The stock traded as high as $4.39 and last traded at $4.1690. Approximately 12,656,128 shares changed hands during trading, a decline of 57% from the average daily volume of 29,560,357 shares. The stock had previously closed at $3.86.

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 net margin of 366.21% and a negative return on equity of 23.85%. The company had revenue of $1.44 million during the quarter, compared to the consensus estimate of $1.31 million.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen cut shares of Richtech Robotics from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Richtech Robotics in a research note on Monday, December 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Richtech Robotics in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Advisors Inc. OK bought a new stake in Richtech Robotics during the 4th quarter valued at $89,000. Traynor Capital Management Inc. bought a new stake in Richtech Robotics in the 4th quarter worth $34,000. SG Americas Securities LLC increased its position in shares of Richtech Robotics by 153.6% in the fourth quarter. SG Americas Securities LLC now owns 85,227 shares of the company’s stock valued at $275,000 after acquiring an additional 51,615 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Richtech Robotics by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 119,522 shares of the company’s stock valued at $513,000 after acquiring an additional 41,033 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Richtech Robotics by 611.5% during the third quarter. IFP Advisors Inc now owns 35,575 shares of the company’s stock worth $153,000 after purchasing an additional 30,575 shares during the period. Institutional investors own 0.01% of the company’s stock.

Richtech Robotics Stock Up 0.2%

The company has a market capitalization of $655.02 million, a PE ratio of -31.21 and a beta of -3.63. The stock’s fifty day moving average price is $3.68 and its two-hundred day moving average price is $3.59.

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.