iRobot (IRBT) is Downgraded by Piper Jaffray to Neutral

iRobot (IRBT) is Downgraded by Piper Jaffray to Neutral , according to the research report released to the investors. Earlier the firm had a rating of Overweight on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

iRobot Corporation is up 21.19% in the last 3-month period. Year-to-Date the stock performance stands at 1.96%.

iRobot Corporation (NASDAQ:IRBT) has dropped 1.91% during the past week, however, the bigger picture is still very bullish; the shares have posted positive gains of 6.15% in the last 4 weeks. The shares have underperformed the S&P 500 by 1.09% during the past week but iRobot Corporation (NASDAQ:IRBT) has outperformed the index in 4 weeks by 8.63%.

Shares of iRobot Corporation (NASDAQ:IRBT) ended Thursday session in red amid volatile trading. The shares closed down 0.64 points or 1.78% at $35.4 with 178,744 shares getting traded. Post opening the session at $35.91, the shares hit an intraday low of $35.39 and an intraday high of $36 and the price vacillated in this range throughout the day. The company has a market cap of $1,029 million and the number of outstanding shares have been calculated to be 29,069,589 shares. The 52-week high of iRobot Corporation (NASDAQ:IRBT) is $37.71 and the 52-week low is $27.55.

Currently the company Insiders own 5.53% of iRobot Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -10.89% . Institutional Investors own 72.35% of iRobot Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -10.89%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, The Securities and Exchange Commission has divulged that Angle Colin M, director officer (Chief Executive Officer) of Irobot Corp, had unloaded 59,074 shares at an average price of $35.29 in a transaction dated on December 15, 2015. The total value of the transaction was worth $2,084,721.

iRobot Corporation develops and manufactures robotic solutions to real-world problems. The Company provides robotic technology and supplies developers with an industry standard platform to create robotic applications. The Companys products combine artificial intelligence technology with easy to use interfaces. The consumer robots are supervised by their owners and respond to a click of a button or mouse. The Company specializes in the development and production of Artificial Intelligence, Man/Machine Interfaces, and Micro Robotics.