Viomi Technology (VIOT) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Viomi Technology (NASDAQ:VIOT) from a hold rating to a sell rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “Viomi Technology Co., Ltd develops and sells Internet-of-things-enabled home products such as water purifiers, refrigerator, fan, water dispenser, water heaters and washing machines through its subsidiaries. Viomi Technology Co., Ltd is based in Haizhu Dist Guangzhou, China. “

Separately, ValuEngine cut shares of Viomi Technology from a buy rating to a hold rating in a research report on Monday, February 4th.

Shares of NASDAQ:VIOT traded down $0.39 during trading on Thursday, hitting $8.85. 6,467 shares of the company’s stock were exchanged, compared to its average volume of 307,175. Viomi Technology has a 1-year low of $7.24 and a 1-year high of $15.84. The stock has a market cap of $665.66 million and a price-to-earnings ratio of 31.21.

Viomi Technology (NASDAQ:VIOT) last issued its quarterly earnings results on Monday, March 18th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.15 by $0.75. The business had revenue of $955.70 million for the quarter, compared to analyst estimates of $891.50 million. The company’s revenue for the quarter was up 142.6% on a year-over-year basis. On average, sell-side analysts anticipate that Viomi Technology will post 0.94 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. CI Investments Inc. boosted its stake in Viomi Technology by 0.5% during the 4th quarter. CI Investments Inc. now owns 753,900 shares of the company’s stock worth $5,880,000 after acquiring an additional 3,900 shares during the last quarter. Morgan Stanley boosted its stake in Viomi Technology by 0.7% during the 1st quarter. Morgan Stanley now owns 963,317 shares of the company’s stock worth $10,664,000 after acquiring an additional 6,761 shares during the last quarter. Prospera Financial Services Inc bought a new position in Viomi Technology during the 1st quarter worth approximately $152,000. Hsbc Holdings PLC bought a new position in Viomi Technology during the 1st quarter worth approximately $238,000. Finally, SG Americas Securities LLC bought a new position in Viomi Technology during the 1st quarter worth approximately $647,000. 12.38% of the stock is currently owned by institutional investors and hedge funds.

Viomi Technology Company Profile

Viomi Technology Co, Ltd, through its subsidiaries, develops and sells Internet-of-things-enabled (IoT-enabled) smart home products in the People's Republic of China. The company offers IoT-enabled smart home products, including smart water purification systems; smart kitchen products, such as refrigerators, oven steamers, dishwashers, range hoods, and gas stoves; and other smart products comprising smart water kettles, washing machines, water heaters, and others.

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