VNET Group (NASDAQ:VNET) Stock Price Down 4.4% – What’s Next?

VNET Group, Inc. (NASDAQ:VNET)’s stock price dropped 4.4% during mid-day trading on Friday . The company traded as low as $7.15 and last traded at $7.15. Approximately 253,399 shares traded hands during trading, a decline of 95% from the average daily volume of 4,648,214 shares. The stock had previously closed at $7.48.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VNET shares. UBS Group raised their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective on the stock in a research note on Wednesday, October 9th. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. Finally, Hsbc Global Res raised VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, VNET Group presently has an average rating of “Buy” and an average price target of $4.78.

VNET Group Stock Down 6.9 %

The firm has a 50-day moving average price of $4.85 and a two-hundred day moving average price of $3.60. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -3.13, a price-to-earnings-growth ratio of 0.65 and a beta of -0.24. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

Institutional Investors Weigh In On VNET Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wolverine Trading LLC acquired a new stake in shares of VNET Group during the third quarter worth about $46,000. Catalina Capital Group LLC acquired a new position in VNET Group during the fourth quarter worth approximately $54,000. AXA S.A. purchased a new stake in VNET Group in the second quarter valued at approximately $65,000. Walleye Capital LLC acquired a new stake in shares of VNET Group in the third quarter valued at approximately $115,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of VNET Group during the fourth quarter worth approximately $152,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

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.