iRobot's (IRBT) Hold Rating Reiterated at Needham & Company LLC

Key Points

• iRobot's stock has been re-evaluated with a "hold" rating by Needham & Company LLC, according to recent reports.
• The company's stock price experienced a slight decline, trading at $3.42 with significant fluctuations seen in its 52-week range of $1.76 to $13.06.
• Recent quarterly results showed iRobot posting an EPS of ($0.27), surpassing estimates, alongside a revenue of $127.60 million, beating expectations as well.

iRobot (NASDAQ:IRBT - Get Free Report)'s stock had its "hold" rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

iRobot Price Performance

NASDAQ IRBT traded down $0.28 during mid-day trading on Thursday, hitting $3.42. The stock had a trading volume of 565,573 shares, compared to its average volume of 2,396,292. iRobot has a 52-week low of $1.76 and a 52-week high of $13.06. The company has a market cap of $107.13 million, a price-to-earnings ratio of -0.55 and a beta of 0.90. The company has a 50 day simple moving average of $3.86 and a 200 day simple moving average of $4.28. The company has a quick ratio of 0.34, a current ratio of 0.54 and a debt-to-equity ratio of 3.28.

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

Hedge Funds Weigh In On iRobot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its holdings in shares of iRobot by 32.4% in the 4th quarter. Two Sigma Investments LP now owns 655,881 shares of the industrial products company's stock valued at $5,083,000 after buying an additional 160,343 shares during the period. Renaissance Technologies LLC boosted its stake in shares of iRobot by 44.8% during the 4th quarter. Renaissance Technologies LLC now owns 575,176 shares of the industrial products company's stock worth $4,458,000 after acquiring an additional 177,876 shares in the last quarter. Private Advisor Group LLC lifted its position 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 acquiring an additional 351,925 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of iRobot in the fourth quarter valued at $832,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of iRobot by 65.7% during the fourth quarter. Russell Investments Group Ltd. now owns 59,750 shares of the industrial products company's stock valued at $466,000 after buying an additional 23,687 shares in the last quarter. 77.42% of the stock is owned by hedge funds and other 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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