VNET Group (NASDAQ:VNET) Hits New 1-Year Low – Time to Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) shares reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $3.86 and last traded at $3.88, with a volume of 5,213,798 shares. The stock had previously closed at $3.92.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VNET. Weiss Ratings lowered shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. Wall Street Zen cut shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of VNET Group in a research note on Tuesday, July 7th. They set a “buy” rating and a $12.50 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $14.00 price objective on shares of VNET Group in a research report on Wednesday, August 19th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.90.

VNET Group Price Performance

The stock has a market cap of $1.12 billion, a PE ratio of -2.92 and a beta of 0.23. 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 business has a fifty day moving average of $6.04 and a 200 day moving average of $7.69.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. The business had revenue of $409.00 million for the quarter, compared to analysts’ expectations of $401.77 million. Sell-side analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.48 earnings per share for the current year.

Institutional Trading of VNET Group

Several institutional investors have recently added to or reduced their stakes in the stock. Leonteq Securities AG bought a new position in VNET Group during the 1st quarter valued at $25,000. Parallel Advisors LLC increased its position in shares of 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 worth $46,000 after purchasing an additional 1,160 shares during the last quarter. Nykredit A S bought a new stake in shares of VNET Group in the 2nd quarter worth about $89,000. Lido Advisors LLC bought a new stake in shares of VNET Group in the 1st quarter worth about $126,000. Finally, Blue Trust Inc. increased its position in shares of VNET Group by 38.4% in the 1st quarter. Blue Trust Inc. now owns 17,791 shares of the information technology services provider’s stock worth $149,000 after purchasing an additional 4,932 shares during the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Company Profile

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.