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

Viomi Technology Co., Ltd. Sponsored ADR (NASDAQ:VIOT) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 426,725 shares, a decline of 38.5% from the September 15th total of 693,554 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 555,233 shares, the days-to-cover ratio is presently 0.8 days.

Viomi Technology Trading Down 2.7%

Shares of VIOT traded down $0.04 during mid-day trading on Friday, hitting $1.42. 74,695 shares of the company were exchanged, compared to its average volume of 494,571. The company has a quick ratio of 2.36, a current ratio of 2.53 and a debt-to-equity ratio of 0.03. Viomi Technology has a 1-year low of $0.66 and a 1-year high of $3.61. The company has a 50 day moving average of $1.20 and a 200-day moving average of $1.01.

Viomi Technology (NASDAQ:VIOT) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $54.46 million during the quarter. Equities analysts forecast that Viomi Technology will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on VIOT. Weiss Ratings downgraded shares of Viomi Technology from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, October 9th. Wall Street Zen raised Viomi Technology to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

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

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.