iRobot (NASDAQ:IRBT) Posts Quarterly Earnings Results, Beats Expectations 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 company had revenue of $145.83 million for the quarter, compared to the consensus estimate of $136.00 million. iRobot had a negative return on equity of 296.63% and a negative net margin of 32.55%.

iRobot Trading Down 5.2%

Shares of IRBT stock traded down $0.12 during trading hours on Friday, reaching $2.20. 4,403,068 shares of the company’s stock were exchanged, compared to its average volume of 2,552,326. iRobot has a 1 year low of $1.76 and a 1 year high of $13.06. The stock has a market cap of $69.01 million, a PE ratio of -0.35 and a beta of 0.98. The stock’s fifty day moving average price is $3.75 and its two-hundred day moving average price is $3.54.

Analyst Ratings Changes

Several brokerages recently weighed in on IRBT. Weiss Ratings restated a “sell (e+)” rating on shares of iRobot in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of iRobot in a research report on Thursday, August 14th. Finally, Wall Street Zen downgraded shares of iRobot from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. One 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, iRobot presently has a consensus rating of “Reduce”.

Institutional Trading of iRobot

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in shares of iRobot by 26.0% in the first quarter. Goldman Sachs Group Inc. now owns 520,039 shares of the industrial products company’s stock worth $1,404,000 after buying an additional 107,257 shares during the last quarter. JPMorgan Chase & Co. lifted its position in iRobot by 165.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,023,401 shares of the industrial products company’s stock worth $3,203,000 after acquiring an additional 637,392 shares during the period. NewEdge Advisors LLC grew its stake in iRobot by 31,130.0% during the 1st quarter. NewEdge Advisors LLC now owns 31,230 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 31,130 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of iRobot by 636.8% in the second quarter. Tower Research Capital LLC TRC now owns 26,062 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 22,525 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of iRobot by 72.2% in the second quarter. BNP Paribas Financial Markets now owns 142,051 shares of the industrial products company’s stock worth $445,000 after purchasing an additional 59,552 shares during the last quarter. Hedge funds and other institutional investors 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.