iRobot (NASDAQ:IRBT) Downgraded by StockNews.com to “Sell”

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

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

iRobot Stock Performance

Shares of iRobot stock opened at $8.10 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.53 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $8.42 and a 200 day simple moving average of $8.94. iRobot has a fifty-two week low of $5.83 and a fifty-two week high of $42.14. The firm has a market cap of $232.93 million, a P/E ratio of -1.04 and a beta of 0.84.

iRobot (NASDAQ:IRBT) last announced its quarterly earnings data 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 analyst estimates of $168.73 million. iRobot had a negative net margin of 25.29% and a negative return on equity of 128.49%. The company’s quarterly revenue was down 29.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.73) earnings per share. Sell-side analysts predict that iRobot will post -4.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. CWM LLC grew its position 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 acquiring an additional 2,278 shares during the period. Nisa Investment Advisors LLC increased its holdings 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 during the last quarter. Daiwa Securities Group Inc. bought a new stake in iRobot in the 2nd quarter valued at $61,000. Sunbelt Securities Inc. increased its holdings 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 valued at $69,000 after purchasing an additional 3,175 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of iRobot in the first quarter valued at about $77,000. 77.42% of the stock is owned by institutional investors and hedge funds.

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.