JPMorgan Chase & Co. Grows Stake in iRobot Co. (NASDAQ:IRBT)

JPMorgan Chase & Co. grew its holdings in shares of iRobot Co. (NASDAQ:IRBT - Free Report) by 2,712.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 400,427 shares of the industrial products company's stock after purchasing an additional 386,189 shares during the period. JPMorgan Chase & Co. owned about 1.31% of iRobot worth $3,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of iRobot in the 3rd quarter valued at approximately $39,000. Sunbelt Securities Inc. raised its position in iRobot by 72.6% during the second quarter. Sunbelt Securities Inc. now owns 7,550 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 3,175 shares in the last quarter. Olympiad Research LP acquired a new position in iRobot during the third quarter valued at approximately $89,000. Quest Partners LLC lifted its stake in iRobot by 39.8% during the third quarter. Quest Partners LLC now owns 11,546 shares of the industrial products company's stock worth $100,000 after purchasing an additional 3,285 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of iRobot by 96.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 12,147 shares of the industrial products company's stock valued at $106,000 after purchasing an additional 5,970 shares in the last quarter. Institutional investors and hedge funds own 77.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of iRobot from a "sell" rating to a "hold" rating in a research report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of iRobot in a research note on Thursday, November 7th.

iRobot Stock Up 6.6 %

IRBT stock traded up $0.55 during midday trading on Friday, reaching $8.85. 3,325,690 shares of the company's stock traded hands, compared to its average volume of 1,453,871. The company has a market cap of $270.45 million, a price-to-earnings ratio of -1.92 and a beta of 0.80. The firm's fifty day moving average price is $8.21 and its 200-day moving average price is $8.43. iRobot Co. has a 52 week low of $5.83 and a 52 week high of $28.09. The company has a quick ratio of 0.94, a current ratio of 1.45 and a debt-to-equity ratio of 1.24.

iRobot (NASDAQ:IRBT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.09. The business had revenue of $193.40 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the business earned ($3.09) earnings per share. As a group, sell-side analysts forecast that iRobot Co. will post -5.74 earnings per share for the current fiscal year.

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.