VNET Group (NASDAQ:VNET) Shares Gap Down - Should You Sell?

VNET Group, Inc. (NASDAQ:VNET - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $11.73, but opened at $11.29. VNET Group shares last traded at $9.49, with a volume of 5,746,530 shares changing hands.

Analysts Set New Price Targets

VNET has been the topic of several research analyst reports. UBS Group boosted their price objective on VNET Group from $6.40 to $7.00 and gave the company a "buy" rating in a research report on Friday, November 29th. The Goldman Sachs Group upgraded VNET Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $3.10 to $5.00 in a research report on Friday, November 29th. Finally, Nomura Securities upgraded VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, VNET Group has a consensus rating of "Buy" and a consensus price target of $4.78.

VNET Group Stock Down 5.0 %

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 company has a market capitalization of $2.95 billion, a PE ratio of -5.17, a P/E/G ratio of 1.01 and a beta of 0.07. The business has a 50-day moving average of $8.59 and a 200 day moving average of $5.28.

Institutional Investors Weigh In On VNET Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 4,939 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in VNET Group during the fourth quarter valued at approximately $41,000. Wolverine Trading LLC purchased a new stake in VNET Group during the third quarter valued at approximately $46,000. Catalina Capital Group LLC purchased a new stake in VNET Group during the fourth quarter valued at approximately $54,000. Finally, Hsbc Holdings PLC purchased a new stake in VNET Group during the fourth quarter valued at approximately $66,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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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.