VNET Group (NASDAQ:VNET) Trading Down 4.4% - Here's Why

Shares of VNET Group, Inc. (NASDAQ:VNET - Get Free Report) traded down 4.4% on Friday . The company traded as low as $7.15 and last traded at $7.15. 253,399 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 4,648,214 shares. The stock had previously closed at $7.48.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group boosted their target price on shares of VNET Group from $6.40 to $7.00 and gave the company a "buy" rating in a research note on Friday, November 29th. The Goldman Sachs Group raised shares of VNET Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $3.10 to $5.00 in a research note on Friday, November 29th. Hsbc Global Res raised VNET Group to a "strong-buy" rating in a research note on Wednesday, October 9th. Finally, HSBC raised VNET Group from a "hold" rating to a "buy" rating and set a $5.20 target price for the company in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, VNET Group presently has a consensus rating of "Buy" and an average price target of $4.78.

VNET Group Stock Performance

The business has a 50-day moving average of $4.98 and a two-hundred day moving average of $3.69. 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 cap of $1.94 billion, a P/E ratio of -3.40, a P/E/G ratio of 0.61 and a beta of -0.18.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wolverine Trading LLC purchased a new position in VNET Group in the third quarter worth $46,000. Catalina Capital Group LLC acquired a new position in VNET Group during the 4th quarter valued at about $54,000. Walleye Capital LLC acquired a new stake in VNET Group in the third quarter worth about $115,000. Asset Management One Co. Ltd. purchased a new stake in shares of VNET Group during the fourth quarter worth about $152,000. Finally, Blue Trust Inc. increased its holdings in shares of VNET Group by 785.4% during 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 in the last quarter. Institutional investors own 72.83% of the company's stock.

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.