VNET Group (NASDAQ:VNET) Stock Price Down 5.5% – What’s Next?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s share price fell 5.5% during trading on Wednesday . The stock traded as low as $7.96 and last traded at $8.1810. 1,228,085 shares changed hands during trading, a decline of 83% from the average session volume of 7,368,167 shares. The stock had previously closed at $8.66.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VNET. Weiss Ratings reiterated a “sell (d+)” rating on shares of VNET Group in a research report on Wednesday, October 8th. Bank of America upped their price objective on shares of VNET Group from $11.80 to $12.60 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Finally, Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, VNET Group has an average rating of “Moderate Buy” and a consensus price target of $11.15.

VNET Group Trading Up 2.1%

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.40. The stock has a market cap of $2.26 billion, a P/E ratio of -104.88, a price-to-earnings-growth ratio of 6.37 and a beta of 0.19. The business’s fifty day simple moving average is $9.70 and its 200 day simple moving average is $8.03.

VNET Group (NASDAQ:VNET) last announced its earnings results on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. VNET Group had a net margin of 0.74% and a return on equity of 0.98%. The company had revenue of $297.93 million for the quarter, compared to analyst estimates of $335.87 million. VNET Group has set its FY 2025 guidance at EPS. As a group, analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

Institutional Investors Weigh In On VNET Group

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in VNET Group by 52.2% in the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 1,426 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of VNET Group in the 1st quarter valued at about $36,000. FNY Investment Advisers LLC acquired a new stake in shares of VNET Group during the 2nd quarter worth approximately $32,000. Summit Securities Group LLC bought a new stake in shares of VNET Group during the first quarter worth approximately $40,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of VNET Group during the second quarter worth approximately $34,000. 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.