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

Key Points

• Short interest fell 38.5% to 426,725 shares as of September 30, representing about 1.0% of Viomi’s outstanding stock and a short-interest ratio of 0.8 days.
• Institutional ownership remains limited at 1.22%, although Renaissance Technologies more than doubled its position and other institutions initiated new stakes.
• Investor sentiment is bearish: Weiss Ratings downgraded the stock to “sell,” matching the broader analyst consensus, while Viomi reported a quarterly loss of $0.03 per share on $54.46 million in revenue.

Viomi Technology Co., Ltd. Sponsored ADR (NASDAQ:VIOT - Get Free Report) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 426,725 shares, a drop of 38.5% from the September 15th total of 693,554 shares. Currently, 1.0% of the company's stock are short sold. Based on an average daily volume of 555,233 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On Viomi Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in Viomi Technology by 110.7% in the first quarter. Renaissance Technologies LLC now owns 703,480 shares of the company's stock valued at $781,000 after acquiring an additional 369,616 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Viomi Technology during the 2nd quarter valued at approximately $258,000. Finally, Bank of America Corp DE acquired a new position in Viomi Technology during the 1st quarter worth approximately $34,000. 1.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Viomi Technology from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Viomi Technology Stock Performance

NASDAQ:VIOT traded down $0.03 on Friday, hitting $1.43. The company's stock had a trading volume of 59,538 shares, compared to its average volume of 635,957. Viomi Technology has a one year low of $0.66 and a one year high of $3.61. The stock has a fifty day moving average of $1.19 and a two-hundred day moving average of $1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.53 and a quick ratio of 2.36.

Viomi Technology (NASDAQ:VIOT - Get Free Report) last released its quarterly earnings results 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. Research analysts expect that Viomi Technology will post -0.09 earnings per share for the current fiscal year.

Viomi Technology Company Profile

Viomi Technology Co, Ltd. is a China-based technology company that develops and sells smart home appliances and internet-connected household products. Its product portfolio has included refrigerators, washing machines, kitchen appliances, water purifiers, range hoods, water heaters, air conditioners and other home-comfort products. Many of its products are designed to connect through smart-home software and mobile applications, allowing users to monitor and control appliances remotely.

Founded in 2014 and headquartered in Foshan, Guangdong, Viomi initially grew through its relationship with Xiaomi, supplying smart household appliances for Xiaomi's ecosystem.

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