VNET Group (NASDAQ:VNET) Stock Price Up 5.5% – Should You Buy?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s share price rose 5.5% during trading on Wednesday . The company traded as high as $8.17 and last traded at $8.1370. Approximately 481,497 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 7,143,096 shares. The stock had previously closed at $7.71.

Analysts Set New Price Targets

Several analysts recently weighed in on VNET shares. Jefferies Financial Group restated a “buy” rating and set a $24.79 target price on shares of VNET Group in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th. Bank of America set a $16.30 price objective on VNET Group and gave the company a “buy” rating in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of VNET Group in a research note on Tuesday. They issued a “buy” rating and a $12.50 price objective on the stock. Finally, Zacks Research raised shares of VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.40.

VNET Group Price Performance

The company has a market cap of $2.23 billion, a P/E ratio of -6.01 and a beta of 0.28. The stock has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $9.70. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). The firm had revenue of $390.32 million for the quarter, compared to the consensus estimate of $388.47 million. VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. On average, equities analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.24 EPS for the current year.

Insider Transactions at VNET Group

In other news, Director Sean Shao sold 60,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the transaction, the director owned 983,820 shares in the company, valued at approximately $1,682,332.20. This represents a 5.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.10% of the stock is owned by company insiders.

Institutional Trading of VNET Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new position in VNET Group in the first quarter worth about $25,000. Global Retirement Partners LLC bought a new position in VNET Group during the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its holdings in VNET Group by 52.2% during 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 in the last quarter. Parallel Advisors LLC grew its stake in shares of VNET Group by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 1,160 shares during the period. Finally, Allianz SE bought a new stake in shares of VNET Group in the 4th quarter valued at approximately $50,000. Institutional investors own 72.83% of the company’s stock.

VNET Group Company Profile

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.