Viomi Technology (NASDAQ:VIOT) Cut to Equal Weight at Morgan Stanley

Morgan Stanley cut shares of Viomi Technology (NASDAQ:VIOT) from an overweight rating to an equal weight rating in a research report released on Monday, Benzinga reports. They currently have $6.30 target price on the stock.

VIOT has been the subject of a number of other reports. BidaskClub downgraded shares of Viomi Technology from a sell rating to a strong sell rating in a report on Saturday, August 8th. Needham & Company LLC reiterated a buy rating and issued a $12.50 target price on shares of Viomi Technology in a report on Wednesday, May 27th. ValuEngine upgraded shares of Viomi Technology from a sell rating to a hold rating in a report on Monday, June 1st. Finally, Zacks Investment Research downgraded shares of Viomi Technology from a hold rating to a sell rating in a report on Wednesday, September 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $8.35.

VIOT stock opened at $5.52 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.82 and a quick ratio of 1.56. The business has a 50-day moving average price of $6.03 and a 200 day moving average price of $5.69. The company has a market capitalization of $382.37 million, a P/E ratio of 14.53 and a beta of 1.87. Viomi Technology has a 1-year low of $4.20 and a 1-year high of $10.80.

Viomi Technology (NASDAQ:VIOT) last announced its earnings results on Monday, August 24th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.49. Viomi Technology had a net margin of 3.62% and a return on equity of 17.85%. On average, analysts anticipate that Viomi Technology will post 0.35 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Two Sigma Advisers LP grew its stake in shares of Viomi Technology by 29.3% during the second quarter. Two Sigma Advisers LP now owns 68,400 shares of the company’s stock worth $363,000 after acquiring an additional 15,500 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Viomi Technology by 53.4% during the second quarter. Marshall Wace LLP now owns 50,415 shares of the company’s stock worth $267,000 after acquiring an additional 17,542 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Viomi Technology by 6.5% during the second quarter. Goldman Sachs Group Inc. now owns 268,619 shares of the company’s stock worth $1,424,000 after acquiring an additional 16,436 shares during the last quarter. Morgan Stanley grew its stake in shares of Viomi Technology by 28.2% during the first quarter. Morgan Stanley now owns 2,293,376 shares of the company’s stock worth $9,975,000 after acquiring an additional 505,065 shares during the last quarter. Finally, Elephas Investment Management Ltd purchased a new stake in shares of Viomi Technology during the first quarter worth about $637,000. Institutional investors and hedge funds own 14.61% of the company’s stock.

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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