iRobot Stock Tries to Shake Off Another Bearish Analyst

IRBT stock has shed its early losses to trade in the black today

by Josh Selway

Published on Sep 4, 2018 at 1:33 PM

iRobot Corporation (NASDAQ:IRBT) has been one of the best stocks in 2018, up close to 50% year-to-date while touching a record high of $118.75 just last week. However, investment research firm Sidoti just downgraded IRBT to "neutral" from "buy" since the shares are approaching the analyst's price target of $118. Still, the security has overcome early losses and was last seen slightly higher on the day at $113.55.

irbt stock chart

The bearish attention is actually nothing new for IRBT stock, with just three of the nine brokerages in coverage handing out "strong buy" recommendations. In fact, Raymond James issued a similar note two months ago, saying at the time that the shares had run too far too fast -- though iRobot is up almost 43% since.

Short interest also remains extremely elevated on the equity, representing a whopping 40% of the total float. Meanwhile, near-term options data also hints at underlying skepticism toward the security. Specifically, the Schaeffer's put/call open interest ratio (SOIR) stands at 1.61, showing put open interest outweighs call open interest by a wide margin among contracts expiring within three months. This reading ranks in the 95th annual percentile, too, so such a put-skew is highly unusual.

 


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