VNET Group, Inc. (NASDAQ:VNET) Given Average Rating of "Buy" by Analysts

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

VNET has been the subject of several analyst reports. The Goldman Sachs Group raised shares of VNET Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. UBS Group raised their price objective on shares of VNET Group from $6.40 to $7.00 and gave the stock a "buy" rating in a research note on Friday, November 29th.

VNET Group Trading Down 1.8 %

NASDAQ VNET traded down $0.21 during trading on Wednesday, hitting $11.54. The stock had a trading volume of 17,510,612 shares, compared to its average volume of 5,087,405. 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 $2.97 billion, a price-to-earnings ratio of -5.20, a P/E/G ratio of 0.78 and a beta of -0.18. VNET Group has a one year low of $1.42 and a one year high of $13.04. The stock has a 50 day simple moving average of $6.04 and a 200 day simple moving average of $4.17.

Institutional Trading of VNET Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after buying an additional 4,939 shares in the last quarter. Headlands Technologies LLC raised its stake in VNET Group by 5.7% in the fourth quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider's stock worth $685,000 after buying an additional 7,737 shares in the last quarter. Catalina Capital Group LLC bought a new position in VNET Group in the fourth quarter worth approximately $54,000. Wolverine Trading LLC bought a new position in VNET Group in the third quarter worth approximately $46,000. Finally, Blue Trust Inc. raised its stake in VNET Group by 29.1% in the fourth quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider's stock worth $257,000 after buying an additional 12,237 shares in the last quarter. Institutional investors own 72.83% of the company's stock.

VNET Group Company Profile

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.