VNET Group, Inc. (NASDAQ:VNET - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $10.94, but opened at $10.30. VNET Group shares last traded at $10.11, with a volume of 2,621,366 shares traded.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on VNET. UBS Group increased their target price on shares of VNET Group from $6.40 to $7.00 and gave the company a "buy" rating in a report on Friday, November 29th. StockNews.com cut VNET Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th. The Goldman Sachs Group raised shares of VNET Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $3.10 to $5.00 in a research note on Friday, November 29th. Citigroup raised their price objective on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Finally, Nomura Securities raised VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $9.30.
Read Our Latest Stock Analysis on VNET Group
VNET Group Stock Performance
The stock's 50-day moving average is $9.67 and its 200-day moving average is $5.88. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -3.92, a price-to-earnings-growth ratio of 1.01 and a beta of 0.07.
VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The company had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. Analysts anticipate that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.
Hedge Funds Weigh In On VNET Group
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vident Advisory LLC boosted its position in shares of VNET Group by 91.6% in the fourth quarter. Vident Advisory LLC now owns 283,296 shares of the information technology services provider's stock worth $1,343,000 after buying an additional 135,467 shares during the period. Squarepoint Ops LLC purchased a new position in VNET Group in the fourth quarter valued at about $132,000. Two Sigma Investments LP acquired a new stake in shares of VNET Group during the fourth quarter worth approximately $2,911,000. Triata Capital Ltd acquired a new position in VNET Group during the 4th quarter worth $47,377,000. Finally, Sig Brokerage LP acquired a new position in VNET Group in the fourth quarter worth about $270,000. 72.83% of the stock is owned by institutional investors and hedge funds.
VNET Group Company Profile
(
Get Free Report)
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.
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