Viomi Technology (NASDAQ:VIOT) Issues Earnings Results, Misses Expectations By $0.04 EPS

Key Points

• Viomi Technology missed quarterly expectations: The company reported a loss of $0.03 per share, $0.04 below the consensus estimate, while revenue of $54.46 million fell well short of analysts’ $128.30 million forecast.
• Investor sentiment remains negative: Viomi shares opened at $0.81, near the lower end of their 52-week range, and the stock carries an average “Sell” rating from analysts.
• Several institutional investors recently initiated positions, but institutional ownership remains limited at just 1.22% of the company’s outstanding stock.

Viomi Technology (NASDAQ:VIOT - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.04), FiscalAI reports. The company had revenue of $54.46 million during the quarter, compared to analyst estimates of $128.30 million.

Viomi Technology Price Performance

Shares of VIOT stock opened at $0.81 on Thursday. Viomi Technology has a 12-month low of $0.66 and a 12-month high of $3.75. The firm has a 50 day moving average price of $0.78 and a two-hundred day moving average price of $1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.43 and a current ratio of 2.60.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Viomi Technology in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".

Hedge Funds Weigh In On Viomi Technology

A number of large investors have recently made changes to their positions in VIOT. Police & Firemen s Retirement System of New Jersey acquired a new stake in Viomi Technology during the 4th quarter worth approximately $28,000. Jane Street Group LLC acquired a new position in Viomi Technology in the 4th quarter valued at $47,000. Sei Investments Co. bought a new position in Viomi Technology during the 3rd quarter worth $59,000. Virtu Financial LLC bought a new position in Viomi Technology during the 3rd quarter worth $72,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Viomi Technology during the third quarter worth $77,000. Institutional investors own 1.22% of the company's stock.

About Viomi Technology

Viomi Technology Co, Ltd. NASDAQ: VIOT is a China-based provider of smart home appliances and Internet of Things (IoT) solutions. The company develops, manufactures and markets a wide range of connected home products, including water purifiers, water dispensers, washing machines, refrigerators, ovens, air conditioners and kitchen appliances. By integrating hardware design with proprietary software and cloud-based services, Viomi delivers automated control, remote monitoring and data analytics to enhance user convenience, energy efficiency and home safety.

At the core of Viomi's offerings is its open IoT platform, which supports device interconnectivity and cross-brand compatibility.

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