Viomi Technology (NASDAQ:VIOT) Downgraded by Morgan Stanley to Equal Weight

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

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Viomi Technology from a hold rating to a sell rating in a research report on Wednesday, September 9th. ValuEngine raised Viomi Technology from a sell rating to a hold rating in a research report on Monday, June 1st. BidaskClub downgraded Viomi Technology from a sell rating to a strong sell rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $12.50 target price on shares of Viomi Technology in a research report on Wednesday, May 27th. Two equities research 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. Viomi Technology presently has an average rating of Hold and an average price target of $8.35.

Viomi Technology stock opened at $5.52 on Monday. The firm has a market capitalization of $382.37 million, a P/E ratio of 14.53 and a beta of 1.87. The stock has a fifty day moving average price of $6.03 and a 200 day moving average price of $5.69. Viomi Technology has a 52 week low of $4.20 and a 52 week high of $10.80. The company has a current ratio of 1.82, a quick ratio of 1.56 and a debt-to-equity ratio of 0.01.

Viomi Technology (NASDAQ:VIOT) last released its earnings results on Monday, August 24th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.49. Viomi Technology had a return on equity of 17.85% and a net margin of 3.62%. As a group, equities analysts predict that Viomi Technology will post 0.35 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its stake in Viomi Technology by 28.2% during the first quarter. Morgan Stanley now owns 2,293,376 shares of the company’s stock valued at $9,975,000 after buying an additional 505,065 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Viomi Technology by 22.3% during the first quarter. Pictet Asset Management Ltd. now owns 978,173 shares of the company’s stock valued at $4,255,000 after buying an additional 178,173 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Viomi Technology by 6.5% during the second quarter. Goldman Sachs Group Inc. now owns 268,619 shares of the company’s stock valued at $1,424,000 after buying an additional 16,436 shares in the last quarter. Elephas Investment Management Ltd acquired a new stake in Viomi Technology during the first quarter valued at approximately $637,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in Viomi Technology during the first quarter valued at approximately $405,000. Hedge funds and other institutional investors 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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