iRobot (NASDAQ:IRBT) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of iRobot (NASDAQ:IRBT) in a research note released on Thursday morning, Benzinga reports.

iRobot Stock Performance

Shares of iRobot stock traded down $0.49 on Thursday, hitting $7.64. The stock had a trading volume of 1,583,091 shares, compared to its average volume of 2,154,953. The stock has a market cap of $219.70 million, a price-to-earnings ratio of -0.98 and a beta of 0.89. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 0.83. iRobot has a twelve month low of $6.48 and a twelve month high of $42.14. The business’s 50 day moving average is $9.78 and its two-hundred day moving average is $10.19.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($1.96) EPS for the quarter, missing analysts’ consensus estimates of ($1.77) by ($0.19). iRobot had a negative net margin of 24.42% and a negative return on equity of 99.56%. The firm had revenue of $166.40 million during the quarter, compared to analyst estimates of $168.73 million. During the same period in the prior year, the company earned ($1.73) earnings per share. The business’s quarterly revenue was down 29.7% compared to the same quarter last year. Analysts forecast that iRobot will post -4.31 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC grew its position in iRobot by 474.6% during the second quarter. CWM LLC now owns 2,758 shares of the industrial products company’s stock worth $25,000 after buying an additional 2,278 shares in the last quarter. Allworth Financial LP grew its holdings in shares of iRobot by 522.0% during the 4th quarter. Allworth Financial LP now owns 678 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 569 shares in the last quarter. Byrne Asset Management LLC bought a new position in shares of iRobot in the fourth quarter worth $31,000. Nisa Investment Advisors LLC raised its stake 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 purchasing an additional 4,286 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in iRobot during the fourth quarter worth about $60,000. Institutional investors and hedge funds 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.