Viomi Technology (NASDAQ:VIOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The firm currently has a $5.50 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 14.11% from the company’s current price.
According to Zacks, “Viomi Technology Co., Ltd develops and sells Internet-of-things-enabled home products such as water purifiers, refrigerator, fan, water dispenser, water heaters and washing machines through its subsidiaries. Viomi Technology Co., Ltd is based in Haizhu Dist Guangzhou, China. “
Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $12.50 price objective on shares of Viomi Technology in a report on Thursday, August 26th. TheStreet cut shares of Viomi Technology from a “c-” rating to a “d+” rating in a research note on Friday, August 13th.
Viomi Technology (NASDAQ:VIOT) last issued its quarterly earnings data on Tuesday, August 24th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. Viomi Technology had a net margin of 3.84% and a return on equity of 19.06%. The business had revenue of $256.93 million during the quarter. As a group, equities analysts forecast that Viomi Technology will post 0.67 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eudaimonia Partners LLC purchased a new position in shares of Viomi Technology in the first quarter valued at $25,000. Citigroup Inc. bought a new stake in shares of Viomi Technology in the first quarter valued at about $49,000. Russell Investments Group Ltd. bought a new stake in shares of Viomi Technology in the second quarter valued at about $59,000. Trexquant Investment LP purchased a new stake in shares of Viomi Technology during the first quarter worth about $94,000. Finally, Virtu Financial LLC purchased a new stake in Viomi Technology in the second quarter valued at approximately $88,000. 4.89% of the stock is currently owned by hedge funds and other institutional investors.
Viomi Technology Company Profile
Viomi Technology Co, Ltd. is a holding company, which engages in the development and sale of Internet-of-thing (IoT) enabled smart home products. It offers oven steamer, range hood, refrigerator, water purifier, and washing machine. The company was founded by Xiao Ping Chen in May 2014 and is headquartered in Guangzhou, China.
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