Viomi Technology (VIOT) Downgraded by Zacks Investment Research to “Sell”

Viomi Technology (NASDAQ:VIOT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report 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 downgraded shares of Viomi Technology from a “buy” rating to a “hold” rating in a research note on Monday, February 4th.

Shares of NASDAQ VIOT traded down $0.53 during midday trading on Thursday, reaching $8.71. 214,763 shares of the company’s stock traded hands, compared to its average volume of 284,720. Viomi Technology has a one year low of $7.24 and a one year high of $15.84.

Viomi Technology (NASDAQ:VIOT) last released its quarterly earnings data on Monday, March 18th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.75. The business had revenue of $955.70 million for the quarter, compared to the consensus estimate of $891.50 million. The company’s revenue was up 142.6% compared to the same quarter last year. On average, equities analysts predict that Viomi Technology will post 0.94 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its stake in Viomi Technology by 0.7% in the first quarter. Morgan Stanley now owns 963,317 shares of the company’s stock valued at $10,664,000 after acquiring an additional 6,761 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Viomi Technology in the first quarter valued at approximately $238,000. FIL Ltd boosted its stake in Viomi Technology by 38.4% in the first quarter. FIL Ltd now owns 1,091,703 shares of the company’s stock valued at $12,085,000 after acquiring an additional 302,646 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in Viomi Technology in the first quarter valued at approximately $152,000. Finally, SG Americas Securities LLC acquired a new stake in Viomi Technology in the first quarter valued at approximately $647,000. Institutional investors own 12.38% of the company’s stock.

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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