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 Monday . The stock had previously closed at $6.39, but opened at $5.70. VNET Group shares last traded at $5.90, with a volume of 1,697,134 shares trading hands.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. StockNews.com cut VNET Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Finally, Citigroup boosted their price objective on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $9.30.

VNET Group Price Performance

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's 50 day moving average price is $9.92 and its two-hundred day moving average price is $6.33. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -2.50, a PEG ratio of 1.01 and a beta of 0.15.

Remove Ads

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

Institutional Trading of VNET Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of VNET Group in the fourth quarter valued at approximately $41,000. Wolverine Trading LLC acquired a new stake in shares of VNET Group during the 3rd quarter worth $46,000. Catalina Capital Group LLC bought a new position in VNET Group in the 4th quarter valued at about $54,000. Finally, Hsbc Holdings PLC acquired a new position in VNET Group during the fourth quarter valued at approximately $66,000. 72.83% of the stock is owned by institutional investors.

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.