VNET Group (NASDAQ:VNET) Shares Gap Down – What’s Next?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $12.44, but opened at $12.00. VNET Group shares last traded at $12.13, with a volume of 651,881 shares trading hands.

Analyst Ratings Changes

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

VNET Group Trading Down 3.4%

The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $3.23 billion, a P/E ratio of -40.03, a PEG ratio of 0.98 and a beta of 0.01. The company’s fifty day simple moving average is $10.42 and its 200-day simple moving average is $9.54.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $362.63 million during the quarter, compared to analysts’ expectations of $335.87 million. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. Research analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On VNET Group

Institutional investors have recently added to or reduced their stakes in the stock. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in VNET Group during the 2nd quarter valued at approximately $194,000. Envestnet Asset Management Inc. lifted its position in VNET Group by 21.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 244,888 shares of the information technology services provider’s stock worth $1,690,000 after acquiring an additional 43,392 shares during the period. Aperture Investors LLC purchased a new stake in VNET Group during the 2nd quarter valued at about $1,259,000. TD Waterhouse Canada Inc. increased its holdings in shares of VNET Group by 4,085.6% in the second quarter. TD Waterhouse Canada Inc. now owns 50,437 shares of the information technology services provider’s stock valued at $333,000 after purchasing an additional 49,232 shares during the period. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of VNET Group in the second quarter worth about $558,000. Institutional investors 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.