Northern Trust Corp Makes New Investment in Richtech Robotics Inc. (NASDAQ:RR)

Northern Trust Corp bought a new stake in shares of Richtech Robotics Inc. (NASDAQ:RR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 109,881 shares of the company's stock, valued at approximately $297,000. Northern Trust Corp owned about 0.10% of Richtech Robotics as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of Richtech Robotics in the fourth quarter valued at about $47,000. Geode Capital Management LLC boosted its holdings in Richtech Robotics by 93.3% in the 4th 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 during the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Richtech Robotics in the 4th quarter valued at approximately $69,000. Renaissance Technologies LLC acquired a new stake in shares of Richtech Robotics during the 4th quarter worth approximately $226,000. Finally, XTX Topco Ltd purchased a new stake in shares of Richtech Robotics during the 4th quarter valued at approximately $293,000. Hedge funds and other institutional investors own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Lake Street Capital assumed coverage on Richtech Robotics in a report on Tuesday, March 18th. They issued a "buy" rating and a $3.00 target price for the company. HC Wainwright began coverage on Richtech Robotics in a report on Friday, April 11th. They set a "buy" rating and a $3.50 price target for the company.

Insider Activity

In other news, COO Phil Zheng sold 105,213 shares of Richtech Robotics stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $2.64, for a total value of $277,762.32. Following the completion of the transaction, the chief operating officer now owns 1,294,787 shares in the company, valued at approximately $3,418,237.68. The trade was a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Matthew G. Casella sold 60,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1.67, for a total value of $100,200.00. The disclosure for this sale can be found here. Corporate insiders own 41.30% of the company's stock.

Richtech Robotics Stock Up 1.0%

Richtech Robotics stock traded up $0.03 during midday trading on Thursday, hitting $2.45. 6,214,171 shares of the company were exchanged, compared to its average volume of 11,758,236. The company has a market cap of $279.96 million, a PE ratio of -16.31 and a beta of -5.19. The company's fifty day moving average price is $2.11 and its 200-day moving average price is $2.07. Richtech Robotics Inc. has a fifty-two week low of $0.30 and a fifty-two week high of $5.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 39.74 and a quick ratio of 70.11.

Richtech Robotics (NASDAQ:RR - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). Richtech Robotics had a negative return on equity of 32.24% and a negative net margin of 203.60%. The business had revenue of $1.17 million during the quarter, compared to analyst estimates of $1.91 million.

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.