VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $17.3975.

A number of brokerages recently commented on VNET. Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Bank of America set a $16.30 price objective on VNET Group and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of VNET Group in a research report on Tuesday, July 7th. They issued a “buy” rating and a $12.50 price target for the company. Wall Street Zen lowered VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th.

Insiders Place Their Bets

In other news, Director Sean Shao sold 60,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.71, for a total transaction of $102,600.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On VNET Group

A number of institutional investors have recently modified their holdings of VNET. Pinpoint Asset Management Singapore Pte. Ltd. lifted its position in VNET Group by 1,849.6% in the 4th quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 764,056 shares of the information technology services provider’s stock valued at $6,464,000 after acquiring an additional 724,865 shares in the last quarter. Temasek Holdings Private Ltd grew its position in VNET Group by 988.7% during the fourth quarter. Temasek Holdings Private Ltd now owns 3,253,150 shares of the information technology services provider’s stock valued at $27,522,000 after buying an additional 2,954,350 shares during the period. Norges Bank purchased a new stake in shares of VNET Group during the 4th quarter worth approximately $65,650,000. Triata Capital Ltd increased its position in VNET Group by 4.6% in the fourth quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider’s stock worth $105,740,000 after buying an additional 550,841 shares during the last quarter. Finally, MASO CAPITAL PARTNERS Ltd bought a new stake in VNET Group in the 3rd quarter valued at about $775,000. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Stock Performance

Shares of NASDAQ VNET opened at $7.75 on Wednesday. VNET Group has a one year low of $7.17 and a one year high of $14.48. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -5.66 and a beta of 0.28. The stock’s fifty day moving average price is $9.08 and its two-hundred day moving average price is $9.68. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99.

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

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.