VNET Group (NASDAQ:VNET) Stock Price Down 3.8% - Time to Sell?

Shares of VNET Group, Inc. (NASDAQ:VNET - Get Free Report) traded down 3.8% on Tuesday . The company traded as low as $8.55 and last traded at $8.65. 818,525 shares were traded during mid-day trading, a decline of 75% from the average session volume of 3,271,248 shares. The stock had previously closed at $8.99.

Analysts Set New Price Targets

VNET has been the topic of a number of recent analyst reports. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group upgraded VNET Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $3.10 to $5.00 in a report 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. StockNews.com cut shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Finally, Citigroup lifted their target price on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $9.30.

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VNET Group Stock Performance

The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -3.72, a PEG ratio of 1.01 and a beta of 0.07. The stock has a fifty day moving average price of $10.00 and a 200-day moving average price of $6.04.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (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 company had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. As a group, analysts anticipate that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of VNET Group

A number of hedge funds and other institutional investors have recently made changes to their positions in VNET. Vident Advisory LLC raised its holdings 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 worth $1,343,000 after purchasing an additional 135,467 shares during the last quarter. Squarepoint Ops LLC bought a new position in VNET Group during the fourth quarter worth about $132,000. Two Sigma Investments LP bought a new stake in shares of VNET Group in the 4th quarter valued at about $2,911,000. Triata Capital Ltd acquired a new stake in shares of VNET Group in the 4th quarter valued at approximately $47,377,000. Finally, Sig Brokerage LP bought a new position in VNET Group during the 4th quarter worth approximately $270,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.