Richtech Robotics (NASDAQ:RR) Upgraded to Sell at Wall Street Zen

Richtech Robotics (NASDAQ:RR) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

A number of other research analysts also recently commented on RR. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Richtech Robotics in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Richtech Robotics in a report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Richtech Robotics presently has an average rating of “Hold” and a consensus price target of $6.00.

Richtech Robotics Stock Down 7.1%

NASDAQ:RR opened at $3.02 on Friday. The business’s 50 day moving average is $2.43 and its two-hundred day moving average is $3.06. Richtech Robotics has a 52 week low of $1.71 and a 52 week high of $7.43. The company has a market cap of $649.59 million, a PE ratio of -21.57 and a beta of -1.34.

Institutional Trading of Richtech Robotics

A number of institutional investors and hedge funds have recently made changes to their positions in RR. Vanguard Group Inc. raised its position in shares of Richtech Robotics by 164.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,612,887 shares of the company’s stock worth $19,789,000 after purchasing an additional 2,865,386 shares during the period. State Street Corp increased its position in Richtech Robotics by 99.7% in the 4th quarter. State Street Corp now owns 4,446,247 shares of the company’s stock valued at $14,361,000 after acquiring an additional 2,219,849 shares during the period. Bank of America Corp DE boosted its position in Richtech Robotics by 738.8% during the 1st quarter. Bank of America Corp DE now owns 1,847,776 shares of the company’s stock worth $3,862,000 after acquiring an additional 1,627,482 shares during the period. Geode Capital Management LLC boosted its position in Richtech Robotics by 73.5% during the 4th quarter. Geode Capital Management LLC now owns 3,586,863 shares of the company’s stock worth $11,589,000 after acquiring an additional 1,519,613 shares during the period. Finally, UBS Group AG grew its stake in shares of Richtech Robotics by 412.2% in the fourth quarter. UBS Group AG now owns 1,804,574 shares of the company’s stock worth $5,829,000 after purchasing an additional 1,452,236 shares in the last quarter. 0.01% of the stock is currently owned by institutional investors and hedge funds.

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.