iRobot (NASDAQ:IRBT) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of iRobot (NASDAQ:IRBT) from a hold rating to a sell rating in a report released on Friday morning.

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

iRobot Stock Performance

NASDAQ:IRBT opened at $8.22 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $236.38 million, a P/E ratio of -1.06 and a beta of 0.85. The firm has a 50-day moving average price of $7.73 and a two-hundred day moving average price of $8.88. iRobot has a twelve month low of $5.83 and a twelve month high of $42.14.

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

Institutional Investors Weigh In On iRobot

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

About iRobot

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.