HC Wainwright Initiates Coverage on Richtech Robotics (NASDAQ:RR)

HC Wainwright assumed coverage on shares of Richtech Robotics (NASDAQ:RR) in a research note released on Friday, Marketbeat reports. The firm issued a buy rating and a $3.50 price target on the stock.

Separately, Lake Street Capital initiated coverage on shares of Richtech Robotics in a report on Tuesday, March 18th. They issued a “buy” rating and a $3.00 price objective for the company.

Richtech Robotics Trading Up 9.5 %

NASDAQ RR opened at $1.96 on Friday. The stock has a market cap of $219.62 million, a P/E ratio of -15.08 and a beta of -5.42. Richtech Robotics has a fifty-two week low of $0.30 and a fifty-two week high of $5.20. The stock has a 50 day simple moving average of $2.11 and a two-hundred day simple moving average of $1.69. 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 (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 news, President Matthew G. Casella sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1.67, for a total value of $100,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 41.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RR. SeaCrest Wealth Management LLC bought a new position in shares of Richtech Robotics in the first quarter worth approximately $29,000. Citadel Advisors LLC bought a new position in Richtech Robotics in the 4th quarter valued at approximately $31,000. Global Wealth Management Investment Advisory Inc. bought a new position in Richtech Robotics in the 4th quarter valued at approximately $47,000. Arete Wealth Advisors LLC purchased a new stake in Richtech Robotics during the 4th quarter valued at $69,000. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Richtech Robotics in the 4th quarter worth $92,000. 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.