VNET Group (NASDAQ:VNET) Cut to "Sell" at StockNews.com

VNET Group (NASDAQ:VNET - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Friday.

Other research analysts have also issued reports about the stock. 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. The Goldman Sachs Group upgraded shares of VNET Group from a "neutral" rating to a "buy" rating and increased their price target for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Citigroup increased their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $7.98.

VNET Group Trading Down 3.9 %

NASDAQ:VNET traded down $0.44 during midday trading on Friday, reaching $10.94. 11,301,707 shares of the stock traded hands, compared to its average volume of 3,093,642. The company has a fifty day moving average of $9.35 and a 200 day moving average of $5.68. VNET Group has a 12 month low of $1.42 and a 12 month high of $16.13. 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 $2.82 billion, a P/E ratio of -4.93, a PEG ratio of 1.01 and a beta of 0.07.

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VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The firm had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. On average, research analysts predict that VNET Group will post -0.06 EPS for the current year.

Institutional Trading of VNET Group

Several institutional investors have recently bought and sold shares of the company. Vident Advisory LLC grew its position in VNET Group by 91.6% during the 4th quarter. Vident Advisory LLC now owns 283,296 shares of the information technology services provider's stock valued at $1,343,000 after purchasing an additional 135,467 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of VNET Group during the 4th quarter valued at about $132,000. Two Sigma Investments LP purchased a new stake in shares of VNET Group during the 4th quarter valued at about $2,911,000. Triata Capital Ltd purchased a new stake in shares of VNET Group during the 4th quarter valued at about $47,377,000. Finally, Sig Brokerage LP purchased a new stake in shares of VNET Group during the 4th quarter valued at about $270,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

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.