VNET Group (NASDAQ:VNET) Shares Gap Down - Time to Sell?

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $11.31, but opened at $10.71. VNET Group shares last traded at $11.02, with a volume of 2,174,966 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on VNET. 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 increased their target price on VNET Group from $6.40 to $7.00 and gave the company a "buy" rating in a research report on Friday, November 29th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, VNET Group presently has an average rating of "Buy" and a consensus target price of $4.78.

VNET Group Stock Down 1.8 %

The business has a 50-day moving average price of $6.04 and a 200-day moving average price of $4.18. 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 stock has a market cap of $2.97 billion, a PE ratio of -5.20, a price-to-earnings-growth ratio of 0.78 and a beta of -0.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 4,939 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of VNET Group in the 4th quarter worth $41,000. Wolverine Trading LLC acquired a new stake in shares of VNET Group in the 3rd quarter worth $46,000. Catalina Capital Group LLC acquired a new stake in shares of VNET Group in the 4th quarter worth $54,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of VNET Group in the 4th quarter worth $66,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

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.