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

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

Richtech Robotics Trading Up 32.5 %

Shares of NASDAQ:RR opened at $2.24 on Tuesday. Richtech Robotics has a 12-month low of $0.30 and a 12-month high of $5.20. The company has a market capitalization of $251.00 million, a PE ratio of -17.23 and a beta of -7.94. The business has a 50 day moving average of $2.48 and a two-hundred day moving average of $1.54. The company has a current ratio of 39.74, a quick ratio of 70.11 and a debt-to-equity ratio of 0.01.

Richtech Robotics (NASDAQ:RR) last announced its earnings results on Friday, February 14th. The company reported ($0.04) earnings per share 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 for the quarter.

Insider Buying and Selling

In related news, President Matthew G. Casella sold 60,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $1.67, for a total transaction of $100,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 41.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Richtech Robotics

A number of hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new stake in shares of Richtech Robotics during the 4th quarter worth about $31,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of Richtech Robotics during the 4th quarter worth about $47,000. Arete Wealth Advisors LLC acquired a new stake in shares of Richtech Robotics during the 4th quarter worth about $69,000. Cary Street Partners Financial LLC acquired a new stake in shares of Richtech Robotics during the 4th quarter worth about $92,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Richtech Robotics during the 4th quarter worth about $113,000. Institutional investors and hedge funds 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.