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

Richtech Robotics Inc. (NASDAQ:RR)’s share price rose 7.9% during mid-day trading on Thursday . The stock 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 Trading Up 7.9 %

The firm has a fifty day moving average of $0.70 and a 200 day moving average of $1.01. The company has a current ratio of 3.27, a quick ratio of 3.17 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Richtech Robotics

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in shares of Richtech Robotics during the second quarter worth about $142,000. Virtu Financial LLC increased its stake in Richtech Robotics by 662.1% during the 3rd quarter. Virtu Financial LLC now owns 188,764 shares of the company’s stock worth $158,000 after buying an additional 163,994 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Richtech Robotics during the 3rd quarter worth approximately $174,000. Hedge funds and other 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.