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

Research analysts at Lake Street Capital initiated coverage on shares of Richtech Robotics (NASDAQ:RR) in a research report issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. Lake Street Capital’s price objective would suggest a potential upside of 40.85% from the company’s previous close.

Richtech Robotics Stock Performance

Shares of RR stock opened at $2.13 on Tuesday. The firm has a market capitalization of $238.67 million, a PE ratio of -16.38 and a beta of -7.94. The firm has a fifty day simple moving average of $2.42 and a two-hundred day simple moving average of $1.55. 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 has a 12 month low of $0.30 and a 12 month high of $5.20.

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

Insider Buying and Selling at Richtech Robotics

In other news, President Matthew G. Casella sold 60,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1.67, for a total value of $100,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 41.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP bought a new position in Richtech Robotics during the fourth quarter valued at approximately $113,000. Millennium Management LLC bought a new position in Richtech Robotics during the fourth quarter valued at approximately $198,000. Citadel Advisors LLC bought a new position in Richtech Robotics during the fourth quarter valued at approximately $31,000. Cary Street Partners Financial LLC bought a new position in Richtech Robotics during the fourth quarter valued at approximately $92,000. Finally, Jane Street Group LLC grew its position in Richtech Robotics by 113.0% during the fourth quarter. Jane Street Group LLC now owns 442,248 shares of the company’s stock valued at $1,194,000 after acquiring an additional 234,578 shares during the last quarter. 0.01% of the stock is currently owned by institutional investors.

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.