VNET Group (NASDAQ:VNET) Stock Price Down 5.7% – Should You Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) shares traded down 5.7% on Thursday . The company traded as low as $11.01 and last traded at $11.2650. 653,484 shares were traded during mid-day trading, a decline of 89% from the average session volume of 5,901,379 shares. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VNET. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.30.

VNET Group Price Performance

The company’s fifty day moving average is $9.12 and its 200 day moving average is $8.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88. The stock has a market cap of $3.08 billion, a PE ratio of -38.22, a price-to-earnings-growth ratio of 1.13 and a beta of -0.02.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates 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 net margin of 5.99% and a negative return on equity of 3.42%. As a group, sell-side analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of VNET Group

Several large investors have recently modified their holdings of VNET. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in VNET Group in the second quarter valued at about $90,000. Farther Finance Advisors LLC bought a new stake in shares of VNET Group in the 2nd quarter worth about $34,000. Public Employees Retirement System of Ohio raised its stake in shares of VNET Group by 16.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock valued at $101,000 after purchasing an additional 2,100 shares in the last quarter. WT Asset Management Ltd acquired a new position in VNET Group in the second quarter worth about $345,000. Finally, QRG Capital Management Inc. bought a new stake in VNET Group in the second quarter valued at about $74,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.