VNET Group (NASDAQ:VNET) Stock Price Down 9.3% – Time to Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s stock price traded down 9.3% during mid-day trading on Wednesday . The company traded as low as $12.00 and last traded at $12.4750. 8,762,218 shares changed hands during trading, an increase of 36% from the average session volume of 6,424,186 shares. The stock had previously closed at $13.75.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VNET shares. Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a report on Monday, December 29th. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.30.

VNET Group Trading Down 9.4%

The stock has a market capitalization of $3.35 billion, a P/E ratio of -41.52, a P/E/G ratio of 1.08 and a beta of 0.01. The business has a 50-day moving average price of $10.29 and a two-hundred day moving average price of $9.50. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. The firm had revenue of $362.63 million for the quarter, compared to the consensus estimate of $335.87 million. On average, analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current fiscal year.

Institutional Trading of VNET Group

Large investors have recently bought and sold shares of the business. Wallace Advisory Group LLC acquired a new position in VNET Group during the second quarter worth about $83,000. FNY Investment Advisers LLC acquired a new stake in VNET Group in the second quarter valued at approximately $32,000. Valliance Asset Management Ltd grew its stake in shares of VNET Group by 35.5% during the second quarter. Valliance Asset Management Ltd now owns 270,900 shares of the information technology services provider’s stock worth $1,869,000 after buying an additional 70,900 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of VNET Group by 103.5% during the second quarter. Asset Management One Co. Ltd. now owns 26,469 shares of the information technology services provider’s stock worth $183,000 after buying an additional 13,461 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of VNET Group by 42.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 19,755 shares of the information technology services provider’s stock valued at $136,000 after acquiring an additional 5,888 shares during the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

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.