VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Given Average Recommendation of “Hold” by Analysts

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has received a consensus rating of “Hold” from the four analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $20.5450.

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th. Zacks Research downgraded VNET Group from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. Wall Street Zen upgraded VNET Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley restated an “overweight” rating on shares of VNET Group in a report on Wednesday. Finally, Bank of America set a $16.30 price target on VNET Group and gave the company a “buy” rating in a report on Tuesday.

VNET Group Trading Up 4.0%

VNET stock traded up $0.38 on Tuesday, reaching $9.92. The company’s stock had a trading volume of 16,130,283 shares, compared to its average volume of 10,226,472. The business has a fifty day simple moving average of $9.04 and a two-hundred day simple moving average of $9.71. VNET Group has a 12-month low of $5.14 and a 12-month high of $14.48. The firm has a market cap of $2.68 billion, a PE ratio of -34.21 and a beta of 0.19. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.92 and a current ratio of 0.92.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, May 27th. The information technology services provider reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.15). The firm had revenue of $390.32 million during the quarter, compared to the consensus estimate of $388.47 million. VNET Group had a positive return on equity of 1.36% and a negative net margin of 2.48%. As a group, research analysts forecast that VNET Group will post 0.21 EPS for the current year.

Insider Activity at VNET Group

In related news, Director David Lifeng Chen sold 83,544 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $1.51, for a total transaction of $126,151.44. Following the sale, the director directly owned 334,164 shares of the company’s stock, valued at $504,587.64. This trade represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On VNET Group

Institutional investors have recently modified their holdings of the business. Leonteq Securities AG purchased a new position in VNET Group in the first quarter worth about $25,000. Global Retirement Partners LLC purchased a new position in VNET Group in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its position 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 worth $29,000 after purchasing an additional 1,426 shares during the last quarter. Parallel Advisors LLC boosted its position in VNET Group by 26.8% in the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Allianz SE purchased a new position in VNET Group in the fourth quarter worth about $50,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

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.