Huami (HMI) Shares Down 10.8%

Shares of Huami Corp (NYSE:HMI) dropped 10.8% during trading on Wednesday . The stock traded as low as $11.02 and last traded at $11.04. Approximately 1,111,549 shares traded hands during trading, an increase of 367% from the average daily volume of 237,992 shares. The stock had previously closed at $12.38.

The stock has a market cap of $735.79 million, a P/E ratio of 16.08 and a beta of 2.24.

Huami (NYSE:HMI) last announced its quarterly earnings data on Thursday, March 14th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.23. Huami had a net margin of 9.24% and a return on equity of 20.91%. The company had revenue of $178.11 million for the quarter.

A number of hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its position in Huami by 12.2% during the 4th quarter. GSA Capital Partners LLP now owns 19,300 shares of the company’s stock valued at $190,000 after purchasing an additional 2,100 shares during the last quarter. Virtu Financial LLC purchased a new stake in Huami during the 1st quarter valued at about $228,000. Renaissance Group LLC purchased a new stake in Huami during the 4th quarter valued at about $634,000. Hamilton Lane Advisors LLC purchased a new stake in Huami during the 1st quarter valued at about $874,000. Finally, Renaissance Technologies LLC purchased a new stake in Huami during the 3rd quarter valued at about $1,089,000. 14.88% of the stock is currently owned by institutional investors.

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About Huami (NYSE:HMI)

Huami Corporation, a biometric and activity data-driven company, develops, manufactures, and sells smart wearable technological devices in the People's Republic of China. It operates through two segments, Xiaomi Wearable Products, and Self-Branded Products and Others. The company offers smart bands, watches, and scales; and a range of accessories, including bands, watch straps, necklaces, sportswear, etc.

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