VNET Group (NASDAQ:VNET) Stock Price Down 5.2% – What’s Next?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s stock price fell 5.2% during mid-day trading on Monday. The company traded as low as $3.06 and last traded at $2.9950. 397,896 shares changed hands during trading, a decline of 94% from the average daily volume of 6,266,285 shares. The stock had previously closed at $3.16.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VNET shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $14.00 target price on shares of VNET Group in a research report on Wednesday, August 19th. UBS Group dropped their price target on VNET Group from $13.40 to $6.80 and set a “buy” rating for the company in a report on Friday, October 30th. Finally, Weiss Ratings lowered VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.88.

VNET Group Trading Up 0.3%

The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $857.18 million, a price-to-earnings ratio of -2.21 and a beta of 0.35. The firm has a fifty day moving average price of $5.21 and a 200-day moving average price of $8.16.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. The company had revenue of $409.00 million during the quarter, compared to analyst estimates of $401.77 million. As a group, equities analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in VNET Group by 26.8% in 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 last quarter. Drive Wealth Management LLC acquired a new stake in VNET Group in the third quarter valued at approximately $56,000. Oppenheimer & Co. Inc. acquired a new stake in VNET Group in the third quarter valued at approximately $62,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of VNET Group during the third quarter worth $85,000. Finally, Nykredit A S bought a new stake in shares of VNET Group during the second quarter worth $89,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

About VNET Group

VNET Group, Inc (NASDAQ:VNET), formerly known as 21Vianet Group, is a provider of data center and information technology infrastructure services in China. Founded in 1999, the company operates carrier-neutral data centers that allow customers to house servers and other equipment while connecting to multiple telecommunications and internet networks.

VNET’s services include data center hosting, cloud computing, managed network services, internet connectivity, content delivery and hybrid cloud solutions.