Viomi Technology (NASDAQ:VIOT) Lowered to Sell at Zacks Investment Research

Viomi Technology (NASDAQ:VIOT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday, 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. “

Shares of NASDAQ:VIOT traded up $0.38 on Friday, reaching $8.99. The company had a trading volume of 47,276 shares, compared to its average volume of 116,267. Viomi Technology has a twelve month low of $7.24 and a twelve month high of $15.84. The company has a 50-day moving average of $8.61. The stock has a market cap of $596.39 million and a PE ratio of 32.11.

Viomi Technology (NASDAQ:VIOT) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). The business had revenue of $676.20 million during the quarter, compared to the consensus estimate of $682.00 million. The firm’s revenue was up 104.4% on a year-over-year basis. As a group, sell-side analysts predict that Viomi Technology will post 0.84 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FIL Ltd lifted its position in shares of Viomi Technology by 38.4% during the 1st quarter. FIL Ltd now owns 1,091,703 shares of the company’s stock worth $12,085,000 after purchasing an additional 302,646 shares during the last quarter. Norges Bank acquired a new position in shares of Viomi Technology during the 4th quarter worth about $1,365,000. CI Investments Inc. lifted its position in shares of 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 purchasing an additional 3,900 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Viomi Technology during the 1st quarter worth about $647,000. Finally, Prospera Financial Services Inc acquired a new position in shares of Viomi Technology during the 1st quarter worth about $152,000. 12.04% of the stock is 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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