iRobot Co. (NASDAQ:IRBT) Sees Significant Drop in Short Interest

iRobot Co. (NASDAQ:IRBT) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 4,870,000 shares, a drop of 7.8% from the July 15th total of 5,280,000 shares. Currently, 17.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,400,000 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of iRobot during the 4th quarter valued at about $60,000. CWM LLC raised its position in iRobot by 474.6% during the second quarter. CWM LLC now owns 2,758 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 2,278 shares in the last quarter. Larson Financial Group LLC lifted its stake in iRobot by 11,822.9% in the fourth quarter. Larson Financial Group LLC now owns 4,173 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 4,138 shares during the last quarter. Nisa Investment Advisors LLC grew its position in iRobot by 1,167.8% in the second quarter. Nisa Investment Advisors LLC now owns 4,653 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 4,286 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of iRobot during the 4th quarter worth $220,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.

iRobot Price Performance

Shares of IRBT opened at $7.23 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.79 and a quick ratio of 1.15. The company has a market capitalization of $207.91 million, a price-to-earnings ratio of -0.93 and a beta of 0.89. The business’s 50-day moving average is $9.53 and its 200-day moving average is $9.79. iRobot has a fifty-two week low of $6.48 and a fifty-two week high of $42.14.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IRBT shares. Needham & Company LLC restated a “hold” rating on shares of iRobot in a research report on Thursday, August 8th. StockNews.com lowered iRobot from a “hold” rating to a “sell” rating in a report on Tuesday.

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.