VNET Group (NASDAQ:VNET) Stock Price Down 2.7% - What's Next?

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) shares dropped 2.7% during trading on Tuesday . The stock traded as low as $6.25 and last traded at $6.27. Approximately 410,434 shares were traded during trading, a decline of 89% from the average daily volume of 3,633,858 shares. The stock had previously closed at $6.44.

Analyst Ratings Changes

VNET has been the subject of several research reports. Nomura Securities raised VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. Citigroup lifted their price objective on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday, March 14th. Finally, StockNews.com downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. One 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $9.30.

VNET Group Stock Down 2.3 %

The firm's fifty day simple moving average is $9.92 and its 200 day simple moving average is $6.33. 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 company has a market cap of $1.43 billion, a price-to-earnings ratio of -2.50, a PEG ratio of 1.01 and a beta of 0.15.

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VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). The business had revenue of $307.75 million during 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%. Sell-side analysts predict that VNET Group, Inc. will post -0.06 earnings per share for the current year.

Institutional Trading of VNET Group

Several institutional investors have recently modified their holdings of the stock. Vident Advisory LLC lifted its position in VNET Group by 91.6% in the fourth quarter. Vident Advisory LLC now owns 283,296 shares of the information technology services provider's stock valued at $1,343,000 after acquiring an additional 135,467 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of VNET Group in the 4th quarter valued at about $132,000. Two Sigma Investments LP acquired a new stake in shares of VNET Group in the 4th quarter valued at about $2,911,000. Triata Capital Ltd acquired a new stake in shares of VNET Group in the fourth quarter valued at approximately $47,377,000. Finally, Sig Brokerage LP purchased a new position in shares of VNET Group during the fourth quarter worth approximately $270,000. 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.