Viomi Technology Co., Ltd (NASDAQ:VIOT) is among the top losers of the stock market today, sinking -4.32% or (-0.4 points) to $8.84 from its previous close of $9.24. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 145029 contracts so far this session. VIOT shares had a relatively better volume day versus average trading capacity of 199.31 thousand shares, but with a 11.4 million float and a -7.69% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for VIOT stock indicates that the average analyst price target is $11.07 per share. This means the stock has a potential increase of 25.23% from where the VIOT share price has been trading recently which is between $9.15 and $9.97. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $9.
The shorts are running away from Viomi Technology Co., Ltd (VIOT) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in VIOT shares. While short interest still represents only 2.95% of VIOT’s float, the number of shares shorted have fallen by -141890. The number of shares shorted fell to 194811 shares, down from 336701 shares during the preceding fortnight. With average daily trading volumes at 522105 shares, days to cover decreased to about 6.769628 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Viomi Technology Co., Ltd to Report First Quarter 2019 Financial Results on Thursday, May 23, 2019” and dated May 08, 2019.
Looking at the current readings for Viomi Technology Co., Ltd, the two-week RSI stands at 33.42. This figure suggests that VIOT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current VIOT readings is similarly very revealing as it has a stochastic reading of 5.35% at this stage. This figure means that VIOT share price today is being overbought.
Technical chart claims that Viomi Technology Co., Ltd (VIOT) would settle between $9.76/share to $10.27/share level. However, if the stock price goes below the $8.94 mark, then the market for Viomi Technology Co., Ltd becomes much weaker. If that happens, the stock price might even plunge as low as $8.63 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.38. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Needham, assumed coverage of VIOT assigning Buy rating, according to their opinion released on October 22. Morgan Stanley, analysts launched coverage of Viomi Technology Co., Ltd (NASDAQ:VIOT) stock with a Overweight recommendation, according to their flash note issued to investors on October 22.
VIOT equity has an average rating of 2.5, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 3 analysts rated Viomi Technology Co., Ltd (NASDAQ:VIOT) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, VIOT stock price is currently trading at 7.75X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.72 while for the average stock in the same group, the multiple is 2.65. Viomi Technology Co., Ltd current P/E ratio of 90.96 means it is trading at a premium against its industry’s 21.35. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.