iRobot (NASDAQ:IRBT) Posts Earnings Results, Beats Estimates By $0.42 EPS

iRobot (NASDAQ:IRBT) posted its earnings results on Thursday. The industrial products company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.42, FiscalAI reports. The business had revenue of $145.83 million for the quarter, compared to analysts’ expectations of $136.00 million. iRobot had a negative net margin of 32.55% and a negative return on equity of 296.63%.

iRobot Trading Down 5.2%

iRobot stock traded down $0.12 during midday trading on Friday, hitting $2.20. The stock had a trading volume of 4,403,068 shares, compared to its average volume of 2,552,326. The business has a fifty day moving average price of $3.75 and a 200 day moving average price of $3.54. iRobot has a 12 month low of $1.76 and a 12 month high of $13.06. The stock has a market cap of $69.01 million, a P/E ratio of -0.35 and a beta of 0.98.

Institutional Investors Weigh In On iRobot

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in iRobot by 299.6% during the first quarter. AQR Capital Management LLC now owns 234,819 shares of the industrial products company’s stock worth $634,000 after purchasing an additional 176,056 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of iRobot by 1.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 358,262 shares of the industrial products company’s stock worth $967,000 after purchasing an additional 5,857 shares during the period. NewEdge Advisors LLC lifted its position in shares of iRobot by 31,130.0% in the 1st quarter. NewEdge Advisors LLC now owns 31,230 shares of the industrial products company’s stock worth $84,000 after buying an additional 31,130 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of iRobot by 26.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 520,039 shares of the industrial products company’s stock valued at $1,404,000 after buying an additional 107,257 shares during the period. Finally, Strs Ohio bought a new stake in shares of iRobot during the 1st quarter valued at about $59,000. 77.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of iRobot in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of iRobot in a research note on Thursday, August 14th. Finally, Wall Street Zen lowered iRobot from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, iRobot presently has a consensus rating of “Reduce”.

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.