Lake Street Capital Begins Coverage on Richtech Robotics (NASDAQ:RR)

Equities research analysts at Lake Street Capital began coverage on shares of Richtech Robotics (NASDAQ:RR) in a report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $3.00 price target on the stock. Lake Street Capital’s target price would suggest a potential upside of 33.93% from the stock’s previous close.

Richtech Robotics Stock Up 32.5 %

RR opened at $2.24 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 39.74 and a quick ratio of 70.11. The business has a 50 day simple moving average of $2.48 and a 200-day simple moving average of $1.54. The stock has a market capitalization of $251.00 million, a P/E ratio of -17.23 and a beta of -7.94. Richtech Robotics has a 12 month low of $0.30 and a 12 month high of $5.20.

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

Insider Transactions at Richtech Robotics

In other news, President Matthew G. Casella sold 60,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1.67, for a total value of $100,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 41.30% of the company’s stock.

Hedge Funds Weigh In On Richtech Robotics

Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new stake in shares of Richtech Robotics in the fourth quarter valued at $31,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of Richtech Robotics in the fourth quarter valued at $47,000. Arete Wealth Advisors LLC purchased a new stake in shares of Richtech Robotics in the fourth quarter valued at $69,000. Cary Street Partners Financial LLC purchased a new stake in Richtech Robotics during the fourth quarter valued at about $92,000. Finally, Two Sigma Investments LP purchased a new stake in Richtech Robotics during the fourth quarter valued at about $113,000. 0.01% of the stock is 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.