iRobot (NASDAQ:IRBT) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• iRobot has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, highlighting concerns about the company's performance.
• Despite the downgrade, shares of iRobot saw a 5.8% increase recently, trading at $4.22, with significant volume traded compared to its average.
• iRobot reported a loss of ($0.27) EPS in its latest quarter, which exceeded analysts' estimates, indicating potential overperformance despite ongoing financial challenges.

iRobot (NASDAQ:IRBT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

IRBT has been the subject of several other reports. Weiss Ratings reissued a "sell (e+)" rating on shares of iRobot in a research note on Saturday, September 27th. Needham & Company LLC reissued a "hold" rating on shares of iRobot in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, iRobot currently has an average rating of "Reduce".

iRobot Stock Up 5.8%

Shares of NASDAQ IRBT traded up $0.23 during mid-day trading on Friday, hitting $4.22. 4,223,642 shares of the company traded hands, compared to its average volume of 1,483,915. iRobot has a 1 year low of $1.76 and a 1 year high of $13.06. The stock has a market capitalization of $132.38 million, a price-to-earnings ratio of -0.68 and a beta of 0.95. The business has a 50 day moving average of $3.72 and a two-hundred day moving average of $3.30.

iRobot (NASDAQ:IRBT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The industrial products company reported ($0.27) EPS for the quarter, beating analysts' consensus estimates of ($0.91) by $0.64. The company had revenue of $127.60 million during the quarter, compared to analyst estimates of $125.00 million. iRobot had a negative net margin of 32.55% and a negative return on equity of 296.63%. As a group, research analysts anticipate that iRobot will post -5.74 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its holdings in iRobot by 2,194.9% in the 1st quarter. CWM LLC now owns 11,314 shares of the industrial products company's stock worth $31,000 after acquiring an additional 10,821 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of iRobot in the second quarter worth about $32,000. Hilltop Partners LLC acquired a new position in shares of iRobot during the 2nd quarter worth about $32,000. Jump Financial LLC acquired a new position in shares of iRobot during the 2nd quarter worth about $36,000. Finally, Headlands Technologies LLC bought a new stake in iRobot during the 2nd quarter valued at approximately $38,000. 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.

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