Viomi Technology (NASDAQ:VIOT) Releases Earnings Results, Beats Expectations By $0.01 EPS

Viomi Technology (NASDAQ:VIOT) issued its quarterly earnings data on Wednesday. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01, reports. The company had revenue of $169.00 million for the quarter. Viomi Technology updated its Q3 2019 guidance to EPS.

VIOT traded down $0.57 during trading on Thursday, reaching $8.66. The company had a trading volume of 3,433 shares, compared to its average volume of 58,280. The firm’s 50-day simple moving average is $9.00 and its 200 day simple moving average is $9.88. The company has a market cap of $631.02 million and a price-to-earnings ratio of 31.88. Viomi Technology has a 12-month low of $7.24 and a 12-month high of $15.84.

Separately, Zacks Investment Research cut shares of Viomi Technology from a “hold” rating to a “sell” rating in a research report on Saturday, July 13th.

Institutional investors and hedge funds have recently modified their holdings of the stock. FIL Ltd increased its stake in Viomi Technology by 38.4% in 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 in the last quarter. Norges Bank purchased a new position in Viomi Technology in the 4th quarter worth about $1,365,000. SG Americas Securities LLC purchased a new position in Viomi Technology in the 1st quarter worth about $647,000. Prospera Financial Services Inc purchased a new position in Viomi Technology in the 1st quarter worth about $152,000. Finally, Invesco Ltd. purchased a new position in Viomi Technology in the 2nd quarter worth about $104,000. 12.07% of the stock is currently owned by hedge funds and other institutional investors.

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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