Zacks Investment Research Downgrades Viomi Technology (VIOT) to Sell

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Zacks Investment Research downgraded shares of Viomi Technology (NASDAQ:VIOT) from a hold rating to a sell rating in a report released on Thursday 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. “

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

Shares of NASDAQ VIOT opened at $8.71 on Thursday. The company has a market cap of $603.32 million and a PE ratio of 31.11. Viomi Technology has a 12-month low of $7.24 and a 12-month high of $15.84.

Viomi Technology (NASDAQ:VIOT) last announced its earnings results on Monday, March 18th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.75. The firm had revenue of $955.70 million for the quarter, compared to the consensus estimate of $891.50 million. Viomi Technology’s revenue for the quarter was up 142.6% compared to the same quarter last year. Research analysts anticipate that Viomi Technology will post 0.94 EPS for the current year.

Large investors have recently made changes to their positions in the stock. Prospera Financial Services Inc bought a new stake in Viomi Technology during the first quarter worth approximately $152,000. Hsbc Holdings PLC bought a new stake in Viomi Technology during the first quarter worth approximately $238,000. SG Americas Securities LLC bought a new stake in Viomi Technology during the first quarter worth approximately $647,000. Norges Bank bought a new stake in Viomi Technology during the fourth quarter worth approximately $1,365,000. Finally, CI Investments Inc. raised its holdings in Viomi Technology by 0.5% during the fourth 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 in the last quarter. 12.38% of the stock is currently owned by hedge funds and other 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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