VNET Group (NASDAQ:VNET) Stock Price Down 5.9% – Should You Sell?

by · The Cerbat Gem

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET – Get Free Report) fell 5.9% during mid-day trading on Tuesday . The stock traded as low as $8.41 and last traded at $8.38. 2,141,782 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 7,083,226 shares. The stock had previously closed at $8.91.

Wall Street Analysts Forecast Growth

VNET has been the subject of several recent research reports. Wall Street Zen downgraded 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 report on Monday, December 8th. Finally, Bank of America raised their price target on shares of VNET Group from $11.80 to $12.60 and gave the stock a “buy” rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.30.

View Our Latest Stock Analysis on VNET Group

VNET Group Stock Down 4.8%

The company has a market cap of $2.28 billion, a price-to-earnings ratio of -28.32, a price-to-earnings-growth ratio of 4.75 and a beta of 0.03. 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 business has a 50-day simple moving average of $9.28 and a 200-day simple moving average of $8.39.

VNET Group (NASDAQ:VNET – Get Free Report) last posted its 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 return on equity of 3.42% and a negative net margin of 5.99%. On average, equities analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. IFP Advisors Inc purchased a new position in VNET Group in the 3rd quarter valued at about $108,000. BlueCrest Capital Management Ltd acquired a new position in shares of VNET Group in the third quarter valued at approximately $331,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of VNET Group in the third quarter valued at approximately $356,000. Verition Fund Management LLC purchased a new position in shares of VNET Group during the third quarter valued at approximately $4,183,000. Finally, Polymer Capital Management HK LTD boosted its position in VNET Group by 378.7% during the third quarter. Polymer Capital Management HK LTD now owns 284,851 shares of the information technology services provider’s stock worth $2,943,000 after acquiring an additional 225,341 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Company Profile

(Get Free Report)

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.

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