iRobot (NASDAQ:IRBT) Lifted to “Hold” at StockNews.com

iRobot (NASDAQ:IRBT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Separately, Needham & Company LLC restated a “hold” rating on shares of iRobot in a research note on Thursday, August 8th.

iRobot Trading Up 0.1 %

IRBT stock traded up $0.01 during mid-day trading on Thursday, reaching $8.61. 387,258 shares of the stock traded hands, compared to its average volume of 1,925,231. iRobot has a one year low of $5.83 and a one year high of $42.14. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.53. The business has a 50-day moving average price of $8.20 and a two-hundred day moving average price of $8.89. The stock has a market capitalization of $247.60 million, a PE ratio of -1.11 and a beta of 0.84.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($1.96) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($0.19). The business had revenue of $166.40 million during the quarter, compared to analysts’ expectations of $168.73 million. iRobot had a negative return on equity of 128.49% and a negative net margin of 25.29%. The company’s quarterly revenue was down 29.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.73) earnings per share. Equities research analysts expect that iRobot will post -4.43 EPS for the current year.

Institutional Trading of iRobot

A number of hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its stake in shares of iRobot by 474.6% during the 2nd quarter. CWM LLC now owns 2,758 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 2,278 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of iRobot by 1,167.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,653 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 4,286 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in iRobot during the second quarter valued at approximately $61,000. Sunbelt Securities Inc. grew its stake in iRobot by 72.6% during the 2nd quarter. Sunbelt Securities Inc. now owns 7,550 shares of the industrial products company’s stock worth $69,000 after buying an additional 3,175 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of iRobot during the first quarter valued at about $77,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.

iRobot Company Profile

iRobot Corporation designs, builds, and sells robots and home innovation products in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company offers floor care products, including Roomba floor vacuuming robots; Roomba accessories and consumables, such as the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the Clean Base, filters, brushes, and batteries; Braava family of automatic floor mopping robots; and Braava accessories and consumables, which include cleaning solution, washable and disposable mopping pads, replacement tanks, and batteries, as well as subscription services.