Short Interest in iRobot Co. (IRBT) Decreases By 17.5%

iRobot Co. (NASDAQ:IRBT) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 8,829,480 shares, a decrease of 17.5% from the August 15th total of 10,701,688 shares. Based on an average daily trading volume, of 1,074,129 shares, the days-to-cover ratio is currently 8.2 days. Approximately 33.6% of the shares of the company are short sold.

Shares of NASDAQ:IRBT traded down $9.06 during midday trading on Monday, reaching $97.00. 1,579,100 shares of the company’s stock were exchanged, compared to its average volume of 945,891. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 55.82, a PEG ratio of 2.16 and a beta of 1.43. iRobot has a fifty-two week low of $55.77 and a fifty-two week high of $118.75.

iRobot (NASDAQ:IRBT) last released its earnings results on Tuesday, July 24th. The industrial products company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.20. The company had revenue of $226.30 million during the quarter, compared to the consensus estimate of $219.71 million. iRobot had a return on equity of 13.27% and a net margin of 5.90%. iRobot’s revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. On average, sell-side analysts expect that iRobot will post 2.43 EPS for the current year.

In other news, CFO Alison Dean sold 16,778 shares of the stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $85.00, for a total transaction of $1,426,130.00. Following the transaction, the chief financial officer now owns 87,523 shares in the company, valued at approximately $7,439,455. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mohamad Ali sold 542 shares of the firm’s stock in a transaction on Friday, July 13th. The shares were sold at an average price of $80.94, for a total value of $43,869.48. Following the completion of the transaction, the director now owns 13,032 shares in the company, valued at approximately $1,054,810.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,609 shares of company stock worth $18,484,357. 3.51% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Psagot Investment House Ltd. acquired a new position in iRobot in the 2nd quarter valued at about $111,000. PNC Financial Services Group Inc. grew its position in iRobot by 74.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,556 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 663 shares in the last quarter. Silvant Capital Management LLC acquired a new position in iRobot in the 1st quarter valued at about $120,000. Quantbot Technologies LP purchased a new position in shares of iRobot in the 1st quarter valued at about $134,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of iRobot in the 2nd quarter valued at about $202,000. 83.21% of the stock is owned by institutional investors.

A number of analysts have issued reports on IRBT shares. Sidoti downgraded iRobot from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 4th. They noted that the move was a valuation call. BidaskClub raised iRobot from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Zacks Investment Research downgraded iRobot from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Piper Jaffray Companies downgraded iRobot from an “overweight” rating to a “neutral” rating in a research note on Monday. Finally, ValuEngine raised iRobot from a “hold” rating to a “buy” rating in a research report on Monday, August 20th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.00.

iRobot Company Profile

iRobot Corporation designs, builds, and sells robots for the consumer market worldwide. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; and Mirra Pool Cleaning Robot to clean residential pools and removes debris as small as two microns from pool floors, walls, and stair.

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