Viomi Technology Co., Ltd. Sponsored ADR (NASDAQ:VIOT) Sees Large Growth in Short Interest

Key Points

• Short interest surged 191.3% to 693,554 shares as of September 15, representing 1.6% of Viomi’s outstanding shares; however, the stock’s days-to-cover ratio remained low at 0.1 days due to high trading volume.
• Institutional ownership remains limited at 1.22%, although Renaissance Technologies increased its stake by 110.7% in the first quarter and other investors initiated positions.
• Viomi shares fell 0.7% to $1.35, while the company reported a quarterly loss of $0.03 per share on $54.46 million in revenue. Analysts and Weiss Ratings maintain a generally cautious Hold view.

Viomi Technology Co., Ltd. Sponsored ADR (NASDAQ:VIOT - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 693,554 shares, a growth of 191.3% from the August 31st total of 238,059 shares. Based on an average daily trading volume, of 6,968,500 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in shares of Viomi Technology by 110.7% in the first quarter. Renaissance Technologies LLC now owns 703,480 shares of the company's stock worth $781,000 after acquiring an additional 369,616 shares during the last quarter. Ramsey Quantitative Systems bought a new position in Viomi Technology during the second quarter worth $258,000. Finally, Bank of America Corp DE acquired a new position in Viomi Technology during the 1st quarter valued at $34,000. 1.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Viomi Technology from a "sell (d)" rating to a "hold (c-)" rating in a report on Monday, August 31st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Viomi Technology presently has an average rating of "Hold".

Viomi Technology Stock Down 0.7%

Shares of Viomi Technology stock traded down $0.01 during trading on Friday, reaching $1.35. The company's stock had a trading volume of 148,325 shares, compared to its average volume of 3,848,867. The company has a current ratio of 2.53, a quick ratio of 2.36 and a debt-to-equity ratio of 0.03. The business's fifty day moving average price is $0.96 and its 200-day moving average price is $0.99. Viomi Technology has a one year low of $0.66 and a one year high of $3.61.

Viomi Technology (NASDAQ:VIOT - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $54.46 million during the quarter. Analysts forecast that Viomi Technology will post -0.09 earnings per share for the current fiscal year.

About Viomi Technology

Viomi Technology Co, Ltd. is a China-based consumer technology company focused on smart home appliances and Internet of Things (IoT) solutions. The company develops connected products designed to work together through digital platforms, helping consumers manage household appliances and services through mobile applications and smart-home interfaces.

Its product portfolio has included refrigerators, washing machines, kitchen appliances, water purifiers, water heaters, air conditioners, televisions, and a range of smaller household appliances.

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