8 Best Robotics Stocks Under $10

2. iRobot Corporation (NASDAQ:IRBT)

Share Price as of June 11: $9.67

Number of Hedge Fund Holders: 17

iRobot Corporation (NASDAQ:IRBT) focuses on smart home appliances, offering a variety of robotic solutions such as vacuum cleaners and floor mapping robots. Their product lineup also includes handheld vacuum cleaners and a programmable platform for their robots.

After a planned merger with Amazon fell through, IRBT shares experienced record short interest, causing per-share prices to drop by more than 75% since January 1. Amazon’s interest in iRobot Corporation (NASDAQ:IRBT) wasn’t driven by vacuum sales but by the company’s advanced technology and intellectual property. Despite the failed merger, iRobot retains its valuable IP portfolio, which could lead to significant gains either through its operations or a potential alternative buyout.

In addition, the first quarter saw iRobot Corporation (NASDAQ:IRBT) reporting a GAAP net income per share of $0.30, a substantial improvement from a net loss per share of $2.95 in Q1 2023. This result significantly surpassed analyst expectations of a $2.01 loss per share. The non-GAAP net loss per share came in at $1.53, an improvement from the previous year’s $1.67 and closer to analyst predictions. These results were positively impacted by a $75 million termination fee paid by Amazon, marking a strategic gain during ongoing restructuring.

According to Insider Monkey’s database, 17 hedge funds held stakes in iRobot Corporation. D. E. Shaw had the largest position with 1.19 million shares valued at approximately $10.49 million.