Richtech Robotics (NASDAQ:RR) Trading Up 7.9% – Here’s Why

Shares of Richtech Robotics Inc. (NASDAQ:RR) were up 7.9% during mid-day trading on Thursday . The company traded as high as $0.59 and last traded at $0.57. Approximately 3,461,473 shares traded hands during trading, a decline of 29% from the average daily volume of 4,881,368 shares. The stock had previously closed at $0.53.

Richtech Robotics Stock Performance

The company has a quick ratio of 3.17, a current ratio of 3.27 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $0.71 and its 200-day simple moving average is $1.02.

Institutional Investors Weigh In On Richtech Robotics

Several institutional investors and hedge funds have recently made changes to their positions in RR. Renaissance Technologies LLC acquired a new stake in shares of Richtech Robotics in the 2nd quarter valued at $142,000. Jane Street Group LLC acquired a new stake in shares of Richtech Robotics in the 3rd quarter valued at $174,000. Finally, Virtu Financial LLC boosted its stake 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 valued at $158,000 after purchasing an additional 163,994 shares in the last quarter. 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.