Richtech Robotics (NASDAQ:RR) Now Covered by Lake Street Capital

Stock analysts at Lake Street Capital began coverage on shares of Richtech Robotics (NASDAQ:RR) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $3.00 price target on the stock. Lake Street Capital’s price objective indicates a potential upside of 40.85% from the company’s current price.

Richtech Robotics Stock Up 11.8 %

Shares of Richtech Robotics stock opened at $2.13 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 70.11 and a current ratio of 39.74. Richtech Robotics has a 52-week low of $0.30 and a 52-week high of $5.20. The stock has a market capitalization of $238.67 million, a price-to-earnings ratio of -16.38 and a beta of -7.94. The company’s 50 day moving average price is $2.42 and its 200-day moving average price is $1.55.

Richtech Robotics (NASDAQ:RR) last announced its quarterly earnings results on Friday, February 14th. The company reported ($0.04) EPS for the quarter. Richtech Robotics had a negative return on equity of 32.24% and a negative net margin of 203.60%. The business had revenue of $1.26 million during the quarter.

Insider Buying and Selling

In other Richtech Robotics news, President Matthew G. Casella sold 60,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1.67, for a total transaction of $100,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Richtech Robotics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RR. Jane Street Group LLC purchased a new position in shares of Richtech Robotics in the 3rd quarter worth about $174,000. Virtu Financial LLC raised its position in shares of Richtech Robotics by 662.1% in the 3rd quarter. Virtu Financial LLC now owns 188,764 shares of the company’s stock worth $158,000 after purchasing an additional 163,994 shares during the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of Richtech Robotics in the 4th quarter worth about $47,000. Geode Capital Management LLC raised its position in shares of Richtech Robotics by 93.3% in the 4th quarter. Geode Capital Management LLC now owns 440,760 shares of the company’s stock worth $1,190,000 after purchasing an additional 212,709 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Richtech Robotics in the 4th quarter worth about $69,000. Hedge funds and other institutional investors own 0.01% of the company’s stock.

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.