VNET Group (NASDAQ:VNET) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

VNET Group, Inc. (NASDAQ:VNET - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.63 and traded as high as $3.83. VNET Group shares last traded at $3.76, with a volume of 2,909,777 shares traded.

Wall Street Analyst Weigh In

VNET has been the topic of several analyst reports. Citigroup assumed coverage on VNET Group in a report on Wednesday, September 4th. They set a "buy" rating and a $4.00 price target on the stock. StockNews.com upgraded shares of VNET Group from a "sell" rating to a "hold" rating in a report on Wednesday, August 21st. HSBC upgraded shares of VNET Group from a "hold" rating to a "buy" rating and set a $5.20 price target for the company in a report on Wednesday, October 9th. Finally, Hsbc Global Res upgraded VNET Group to a "strong-buy" rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $3.97.

VNET Group Stock Up 1.6 %

The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.87 and a current ratio of 0.87. The business's 50-day simple moving average is $3.57 and its two-hundred day simple moving average is $2.63.

VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. VNET Group had a negative return on equity of 11.44% and a negative net margin of 34.62%. The company had revenue of $274.35 million during the quarter, compared to the consensus estimate of $266.56 million. As a group, equities research analysts predict that VNET Group, Inc. will post 0.02 earnings per share for the current fiscal year.

Institutional Trading of VNET Group

Hedge funds have recently modified their holdings of the stock. Wolverine Trading LLC purchased a new position in shares of VNET Group in the 3rd quarter valued at about $46,000. Ballentine Partners LLC purchased a new stake in VNET Group during the 2nd quarter worth about $36,000. Walleye Capital LLC purchased a new stake in VNET Group during the third quarter worth approximately $115,000. AXA S.A. purchased a new stake in shares of VNET Group during the 2nd quarter worth approximately $65,000. Finally, Blue Trust Inc. lifted its position in VNET Group by 785.4% in the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider's stock valued at $172,000 after acquiring an additional 37,322 shares during the last quarter. 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.