iRobot (NASDAQ:IRBT) Share Price Passes Above 200 Day Moving Average - Here's Why

Shares of iRobot Corporation (NASDAQ:IRBT - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.37 and traded as high as $5.90. iRobot shares last traded at $4.89, with a volume of 7,080,412 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on IRBT. Weiss Ratings reiterated a "sell (e+)" rating on shares of iRobot in a report on Wednesday, October 8th. Wall Street Zen lowered shares of iRobot from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of iRobot in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce".

iRobot Stock Performance

The firm's 50-day simple moving average is $3.73 and its 200 day simple moving average is $3.37. The stock has a market capitalization of $153.40 million, a P/E ratio of -0.78 and a beta of 0.95.

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

Hedge Funds Weigh In On iRobot

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in iRobot by 165.1% during the second quarter. JPMorgan Chase & Co. now owns 1,023,401 shares of the industrial products company's stock worth $3,203,000 after buying an additional 637,392 shares during the last quarter. Bank of America Corp DE grew its position in shares of iRobot by 178.3% in the 2nd quarter. Bank of America Corp DE now owns 898,027 shares of the industrial products company's stock valued at $2,811,000 after acquiring an additional 575,312 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of iRobot by 26.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 520,039 shares of the industrial products company's stock worth $1,404,000 after purchasing an additional 107,257 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of iRobot by 317.2% in the 1st quarter. Private Advisor Group LLC now owns 462,880 shares of the industrial products company's stock valued at $1,250,000 after purchasing an additional 351,925 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in iRobot by 13.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 412,722 shares of the industrial products company's stock valued at $1,114,000 after purchasing an additional 49,523 shares during the last quarter. 77.42% of the stock is owned by institutional investors.

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.

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