iRobot (NASDAQ:IRBT) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of iRobot (NASDAQ:IRBT) from a hold rating to a sell rating in a research note published on Sunday morning.

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

iRobot Stock Performance

NASDAQ:IRBT opened at $8.50 on Friday. The stock has a 50 day simple moving average of $7.75 and a 200 day simple moving average of $8.85. The stock has a market cap of $244.29 million, a P/E ratio of -1.09 and a beta of 0.85. iRobot has a 1-year low of $5.83 and a 1-year high of $42.14. The company has a current ratio of 1.53, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16.

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

Institutional Investors Weigh In On iRobot

Large investors have recently bought and sold shares of the company. CWM LLC lifted its holdings 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 acquiring an additional 2,278 shares during the period. nVerses Capital LLC bought a new stake in iRobot during the third quarter worth $39,000. Nisa Investment Advisors LLC boosted its holdings in shares of iRobot by 1,167.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,653 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 4,286 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of iRobot in the 2nd quarter valued at $61,000. Finally, Sunbelt Securities Inc. increased its stake in shares of iRobot by 72.6% in the 2nd quarter. Sunbelt Securities Inc. now owns 7,550 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 3,175 shares during the last quarter. 77.42% of the stock is currently owned by institutional investors and hedge funds.

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.