iRobot Co. (NASDAQ:IRBT – Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 3,060,000 shares, a decrease of 10.3% from the August 15th total of 3,410,000 shares. Currently, 11.5% of the company’s shares are short sold. Based on an average daily trading volume, of 459,100 shares, the days-to-cover ratio is presently 6.7 days.
Analysts Set New Price Targets
A number of research firms have recently commented on IRBT. StockNews.com upgraded iRobot from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Citigroup cut their price objective on iRobot from $61.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, July 27th.
Institutional Trading of iRobot
iRobot Stock Up 1.1 %
NASDAQ:IRBT traded up $0.39 during trading hours on Monday, reaching $35.49. 409,015 shares of the stock were exchanged, compared to its average volume of 425,623. The firm has a 50 day simple moving average of $39.99 and a 200-day simple moving average of $40.78. iRobot has a 52 week low of $31.37 and a 52 week high of $58.76. The stock has a market capitalization of $983.07 million, a P/E ratio of -2.60 and a beta of 1.08.
iRobot (NASDAQ:IRBT – Get Free Report) last released its earnings results on Tuesday, August 8th. The industrial products company reported ($1.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.94) by $0.21. iRobot had a negative return on equity of 47.45% and a negative net margin of 36.24%. The company had revenue of $236.57 million for the quarter, compared to the consensus estimate of $224.48 million.
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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