VNET Group (NASDAQ:VNET) Stock Price Down 9.3% – Should You Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) shares dropped 9.3% during trading on Wednesday . The stock traded as low as $12.00 and last traded at $12.4750. Approximately 8,762,218 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 6,424,186 shares. The stock had previously closed at $13.75.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VNET shares. Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a report on Monday, December 29th. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.30.

VNET Group Stock Down 9.4%

The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50-day moving average of $10.29 and a 200 day moving average of $9.50. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -41.52, a PEG ratio of 1.08 and a beta of 0.01.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data 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. The company had revenue of $362.63 million for the quarter, compared to analysts’ expectations of $335.87 million. VNET Group had a negative return on equity of 3.42% and a negative net margin of 5.99%. As a group, sell-side analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VNET Group

A number of institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in shares of VNET Group in the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 1,426 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of VNET Group during the 2nd quarter worth about $32,000. First Horizon Advisors Inc. bought a new stake in shares of VNET Group during the 2nd quarter worth about $43,000. Finally, Allianz SE acquired a new position in VNET Group in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

About VNET Group

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.