iRobot (NASDAQ:IRBT) Rating Reiterated by Needham & Company LLC

iRobot (NASDAQ:IRBT)‘s stock had its “hold” rating reiterated by stock analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

iRobot Trading Down 6.0 %

Shares of iRobot stock traded down $0.49 during trading on Thursday, hitting $7.64. 1,583,091 shares of the company were exchanged, compared to its average volume of 2,154,953. The firm has a market capitalization of $219.70 million, a P/E ratio of -0.98 and a beta of 0.89. iRobot has a 1-year low of $6.48 and a 1-year high of $42.14. The firm’s fifty day moving average price is $9.78 and its 200 day moving average price is $10.19. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.79 and a quick ratio of 1.15.

iRobot (NASDAQ:IRBT) last released its earnings results on Tuesday, August 6th. The industrial products company reported ($1.96) EPS for the quarter, missing the consensus estimate of ($1.77) by ($0.19). The firm had revenue of $166.40 million during the quarter, compared to the consensus estimate of $168.73 million. iRobot had a negative net margin of 24.42% and a negative return on equity of 99.56%. The company’s revenue was down 29.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.73) EPS. As a group, sell-side analysts expect that iRobot will post -4.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iRobot

Several institutional investors and hedge funds have recently made changes to their positions in IRBT. International Assets Investment Management LLC bought a new position in iRobot in the fourth quarter worth approximately $60,000. Allworth Financial LP increased its position in iRobot by 522.0% in the fourth quarter. Allworth Financial LP now owns 678 shares of the industrial products company’s stock worth $26,000 after buying an additional 569 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in iRobot by 0.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 314,696 shares of the industrial products company’s stock worth $12,179,000 after buying an additional 2,735 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in iRobot in the fourth quarter worth $31,000. Finally, Louisiana State Employees Retirement System purchased a new stake in iRobot in the fourth quarter worth $538,000. Institutional investors and hedge funds own 77.42% of the company’s stock.

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.