VNET Group (NASDAQ:VNET) Reaches New 12-Month Low – Should You Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) hit a new 52-week low on Monday . The company traded as low as $6.13 and last traded at $6.1450, with a volume of 1368984 shares traded. The stock had previously closed at $6.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of VNET Group in a research report on Wednesday, July 15th. Wall Street Zen lowered VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft assumed coverage on VNET Group in a research note on Tuesday, July 7th. They issued a “buy” rating and a $12.50 price target for the company. Bank of America set a $16.30 price target on VNET Group and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $24.79 price objective on shares of VNET Group in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.90.

VNET Group Trading Up 2.6%

The company has a debt-to-equity ratio of 4.35, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s 50-day moving average is $7.37 and its two-hundred day moving average is $8.88. The company has a market cap of $1.68 billion, a P/E ratio of -4.38 and a beta of 0.28.

VNET Group (NASDAQ:VNET) last posted its earnings results on Tuesday, August 18th. The information technology services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The company had revenue of $409.00 million during the quarter, compared to the consensus estimate of $401.77 million. VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. As a group, equities research analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.27 earnings per share for the current fiscal year.

Institutional Trading of VNET Group

Large investors have recently modified their holdings of the company. Leonteq Securities AG bought a new position in VNET Group in the first quarter valued at about $25,000. Global Retirement Partners LLC purchased a new position in VNET Group in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 1,426 shares during the period. Parallel Advisors LLC grew its stake in shares of VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 1,160 shares during the period. Finally, Allianz SE purchased a new stake in shares of VNET Group during the 4th quarter valued at about $50,000. Institutional investors own 72.83% of the company’s stock.

VNET Group Company Profile

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.