Viomi Technology Co Ltd – (NASDAQ:VIOT)’s share price traded down 6.5% on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $7.65 and last traded at $7.93. 680,788 shares traded hands during trading, an increase of 367% from the average session volume of 145,707 shares. The stock had previously closed at $8.48.
The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The firm had revenue of $676.20 million during the quarter, compared to analyst estimates of $682.00 million. The business’s quarterly revenue was up 104.4% on a year-over-year basis.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Viomi Technology from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. ValuEngine downgraded Viomi Technology from a “buy” rating to a “hold” rating in a research report on Monday, February 4th.
The company has a market capitalization of $615.78 million and a price-to-earnings ratio of 28.32.
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Viomi Technology Company Profile (NASDAQ:VIOT)
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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