Viomi Technology (VIOT) Announces Earnings Results, Misses Expectations By $0.03 EPS

Viomi Technology (NASDAQ:VIOT) announced its quarterly earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03), Morningstar.com reports. The company had revenue of $676.20 million for 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. Viomi Technology updated its Q2 2019 guidance to EPS.

NASDAQ VIOT opened at $7.93 on Friday. The firm has a market capitalization of $615.78 million and a price-to-earnings ratio of 28.32. Viomi Technology has a one year low of $7.24 and a one year high of $15.84.

A number of hedge funds and other institutional investors have recently bought and sold shares of VIOT. Morgan Stanley acquired a new position in Viomi Technology in the third quarter valued at $16,096,000. CI Investments Inc. increased its stake in Viomi Technology by 0.5% in the fourth quarter. CI Investments Inc. now owns 753,900 shares of the company’s stock valued at $5,880,000 after purchasing an additional 3,900 shares during the period. Norges Bank acquired a new position in Viomi Technology in the fourth quarter valued at $1,365,000. SG Americas Securities LLC acquired a new position in Viomi Technology in the first quarter valued at $647,000. Finally, Prospera Financial Services Inc acquired a new position in Viomi Technology in the first quarter valued at $152,000. Institutional investors own 12.30% of the company’s stock.

VIOT has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Viomi Technology from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine lowered shares of Viomi Technology from a “buy” rating to a “hold” rating in a research note on Monday, February 4th.

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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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