VNET Group, Inc. (NASDAQ:VNET) Receives $4.78 Average PT from Brokerages

Shares of VNET Group, Inc. (NASDAQ:VNET - Get Free Report) have earned an average recommendation of "Buy" from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $4.78.

A number of equities research analysts recently issued reports on VNET shares. UBS Group upped their price objective on shares of VNET Group from $6.40 to $7.00 and gave the stock a "buy" rating in a report on Friday, November 29th. HSBC upgraded shares of VNET Group from a "hold" rating to a "buy" rating and set a $5.20 price objective for the company in a report on Wednesday, October 9th. Hsbc Global Res upgraded shares of VNET Group to a "strong-buy" rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group upgraded shares of VNET Group from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $3.10 to $5.00 in a report on Friday, November 29th.

VNET Group Stock Down 0.7 %

Shares of NASDAQ VNET traded down $0.04 during mid-day trading on Friday, reaching $5.60. The company had a trading volume of 2,361,092 shares, compared to its average volume of 3,205,934. VNET Group has a twelve month low of $1.39 and a twelve month high of $6.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $1.44 billion, a PE ratio of -2.52, a price-to-earnings-growth ratio of 0.52 and a beta of -0.24. The stock's 50 day moving average is $4.28 and its 200-day moving average is $3.32.

Institutional Investors Weigh In On VNET Group

A number of hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its position in shares of VNET Group by 89.1% during the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider's stock valued at $6,229,000 after buying an additional 1,400,683 shares during the last quarter. Anson Funds Management LP raised its position in shares of VNET Group by 84.9% during the third quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider's stock valued at $1,836,000 after buying an additional 206,580 shares during the last quarter. SG Americas Securities LLC raised its position in shares of VNET Group by 534.6% during the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider's stock valued at $1,931,000 after buying an additional 343,140 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of VNET Group by 24.8% during the third quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider's stock valued at $1,506,000 after buying an additional 73,311 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of VNET Group by 237.7% during the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider's stock valued at $1,218,000 after buying an additional 210,124 shares during the last quarter. 72.83% of the stock is currently owned by institutional investors.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.