Northern Trust Corp Invests $297,000 in Richtech Robotics Inc. (NASDAQ:RR)

Northern Trust Corp purchased a new position in shares of Richtech Robotics Inc. (NASDAQ:RR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 109,881 shares of the company’s stock, valued at approximately $297,000. Northern Trust Corp owned about 0.10% of Richtech Robotics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of Richtech Robotics during the fourth quarter worth approximately $47,000. Arete Wealth Advisors LLC bought a new stake in Richtech Robotics in the fourth quarter valued at approximately $69,000. Renaissance Technologies LLC bought a new stake in Richtech Robotics in the fourth quarter valued at approximately $226,000. XTX Topco Ltd bought a new stake in Richtech Robotics in the fourth quarter valued at approximately $293,000. Finally, Geode Capital Management LLC increased its stake in Richtech Robotics by 93.3% in the fourth quarter. Geode Capital Management LLC now owns 440,760 shares of the company’s stock valued at $1,190,000 after purchasing an additional 212,709 shares in the last quarter. 0.01% of the stock is owned by institutional investors.

Insider Activity

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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 41.30% of the company’s stock.

Richtech Robotics Stock Performance

Shares of RR opened at $2.31 on Monday. Richtech Robotics Inc. has a 12 month low of $0.30 and a 12 month high of $5.20. The firm has a fifty day simple moving average of $2.10 and a 200 day simple moving average of $2.06. The stock has a market capitalization of $264.50 million, a price-to-earnings ratio of -15.40 and a beta of -5.19. 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 quarterly earnings results on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $1.17 million during the quarter, compared to analyst estimates of $1.91 million. Richtech Robotics had a negative net margin of 203.60% and a negative return on equity of 32.24%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Lake Street Capital assumed coverage on shares of Richtech Robotics in a research note on Tuesday, March 18th. They issued a “buy” rating and a $3.00 target price for the company. HC Wainwright assumed coverage on shares of Richtech Robotics in a research note on Friday, April 11th. They issued a “buy” rating and a $3.50 target price for the company.

Richtech Robotics 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.