VNET Group (NASDAQ:VNET) Trading Down 8.8% – Here’s Why

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) shares traded down 8.8% during trading on Monday . The company traded as low as $9.43 and last traded at $9.59. 2,452,008 shares traded hands during trading, a decline of 64% from the average session volume of 6,843,905 shares. The stock had previously closed at $10.51.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.60.

VNET Group Price Performance

The company has a 50 day moving average of $11.10 and a two-hundred day moving average of $9.89. The firm has a market cap of $2.54 billion, a P/E ratio of -31.48, a PEG ratio of 0.82 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Monday, March 16th. The information technology services provider reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04). The firm had revenue of $384.07 million for the quarter, compared to the consensus estimate of $368.64 million. VNET Group had a negative return on equity of 3.42% and a negative net margin of 5.99%. Sell-side analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

Institutional Trading of VNET Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in VNET Group in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its position in VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 1,426 shares during the last quarter. Allianz SE acquired a new stake in VNET Group during the 4th quarter worth about $50,000. Headlands Technologies LLC bought a new position in shares of VNET Group during the 2nd quarter worth approximately $55,000. Finally, Persistent Asset Partners Ltd bought a new position in VNET Group in the 3rd quarter worth approximately $100,000. 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.