iRobot (NASDAQ:IRBT) Share Price Crosses Above 200 Day Moving Average – Here’s Why

iRobot Co. (NASDAQ:IRBT)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.37 and traded as high as $9.97. iRobot shares last traded at $9.91, with a volume of 2,895,561 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on IRBT. Needham & Company LLC reaffirmed a “hold” rating on shares of iRobot in a report on Thursday, November 7th. StockNews.com lowered iRobot from a “hold” rating to a “sell” rating in a research note on Sunday, October 27th.

iRobot Stock Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.94 and a current ratio of 1.45. The company has a market cap of $302.84 million, a price-to-earnings ratio of -2.15 and a beta of 0.80. The firm’s 50-day moving average price is $7.92 and its 200 day moving average price is $8.36.

iRobot (NASDAQ:IRBT) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $193.40 million during the quarter, compared to analyst estimates of $218.41 million. iRobot had a negative net margin of 16.15% and a negative return on equity of 100.79%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.09) EPS. On average, sell-side analysts anticipate that iRobot Co. will post -5.74 EPS for the current year.

Hedge Funds Weigh In On iRobot

Several hedge funds have recently added to or reduced their stakes in IRBT. JPMorgan Chase & Co. increased its stake in shares of iRobot by 2,712.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 400,427 shares of the industrial products company’s stock valued at $3,480,000 after acquiring an additional 386,189 shares during the last quarter. Squarepoint Ops LLC increased its stake in iRobot by 131.1% in the second quarter. Squarepoint Ops LLC now owns 79,925 shares of the industrial products company’s stock valued at $728,000 after purchasing an additional 337,057 shares in the last quarter. Verition Fund Management LLC bought a new stake in iRobot in the third quarter valued at approximately $1,556,000. AQR Capital Management LLC raised its holdings in iRobot by 185.4% in the second quarter. AQR Capital Management LLC now owns 196,431 shares of the industrial products company’s stock worth $1,789,000 after purchasing an additional 127,602 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of iRobot during the second quarter worth $529,000. Institutional investors and hedge funds own 77.42% of the company’s stock.

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.