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

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Zacks Investment Research lowered shares of Viomi Technology (NASDAQ:VIOT) from a hold rating to a sell rating in a research report report published on Saturday morning, 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 VIOT stock opened at $8.99 on Friday. Viomi Technology has a twelve month low of $7.24 and a twelve month high of $15.84. The stock has a fifty day moving average price of $8.61.

Viomi Technology (NASDAQ:VIOT) last issued its quarterly earnings data 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 company had revenue of $676.20 million during the quarter, compared to analysts’ expectations of $682.00 million. Viomi Technology’s revenue was up 104.4% compared to the same quarter last year. As a group, sell-side analysts predict that Viomi Technology will post 0.84 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Prospera Financial Services Inc purchased a new stake in shares of Viomi Technology during the 1st quarter worth $152,000. SG Americas Securities LLC purchased a new stake in shares of Viomi Technology during the 1st quarter worth $647,000. Norges Bank purchased a new stake in shares of Viomi Technology during the 4th quarter worth $1,365,000. CI Investments Inc. lifted its stake 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. Finally, FIL Ltd lifted its stake 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. Hedge funds and other institutional investors own 12.04% 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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