Needham & Company LLC Initiates Coverage on Viomi Technology (NASDAQ:VIOT)

Needham & Company LLC assumed coverage on shares of Viomi Technology (NASDAQ:VIOT) in a research report released on Wednesday, TipRanks reports. The brokerage issued a buy rating and a $13.00 price target on the stock.

Separately, Zacks Investment Research lowered Viomi Technology from a hold rating to a sell rating in a report on Saturday, July 13th.

Shares of VIOT opened at $8.82 on Wednesday. Viomi Technology has a twelve month low of $7.24 and a twelve month high of $15.84. The stock’s 50 day moving average is $8.99 and its two-hundred day moving average is $9.89. The firm has a market capitalization of $610.94 million and a PE ratio of 31.50.

Viomi Technology (NASDAQ:VIOT) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $169.00 million during the quarter. On average, equities analysts predict that Viomi Technology will post 0.84 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in Viomi Technology in the 2nd quarter valued at approximately $33,000. Hershey Trust Co. acquired a new stake in shares of Viomi Technology during the 2nd quarter valued at approximately $76,000. Invesco Ltd. acquired a new stake in shares of Viomi Technology during the 2nd quarter valued at approximately $104,000. Citadel Advisors LLC acquired a new stake in shares of Viomi Technology during the 2nd quarter valued at approximately $139,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of Viomi Technology during the 1st quarter valued at approximately $152,000. 12.07% of the stock is currently owned by institutional investors.

About Viomi Technology

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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