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

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been given an average rating of “Hold” by the four analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.5450.

VNET has been the topic of a number of analyst reports. Wall Street Zen raised VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research cut VNET Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of VNET Group in a research report on Wednesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $24.79 price objective on shares of VNET Group in a research report on Tuesday.

VNET Group Stock Performance

Shares of VNET stock traded up $0.38 during trading hours on Tuesday, reaching $9.92. 16,130,283 shares of the company traded hands, compared to its average volume of 10,226,472. VNET Group has a 12-month low of $5.14 and a 12-month high of $14.48. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $2.68 billion, a P/E ratio of -34.21 and a beta of 0.19. The firm has a 50-day moving average price of $9.04 and a 200 day moving average price of $9.71.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, May 27th. The information technology services provider reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.15). VNET Group had a negative net margin of 2.48% and a positive return on equity of 1.36%. The company had revenue of $390.32 million for the quarter, compared to analysts’ expectations of $388.47 million. As a group, sell-side analysts predict that VNET Group will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at VNET Group

In related news, Director David Lifeng Chen sold 83,544 shares of VNET Group stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $1.51, for a total transaction of $126,151.44. Following the sale, the director owned 334,164 shares of the company’s stock, valued at approximately $504,587.64. This trade represents a 20.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.10% of the company’s stock.

Institutional Trading of VNET Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. raised its stake in VNET Group by 3.0% during the 1st quarter. Sei Investments Co. now owns 37,602 shares of the information technology services provider’s stock valued at $316,000 after purchasing an additional 1,098 shares during the period. Parallel Advisors LLC raised its stake in VNET Group by 26.8% during 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. Orion Porfolio Solutions LLC raised its stake in VNET Group by 6.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider’s stock valued at $222,000 after purchasing an additional 1,237 shares during the period. EverSource Wealth Advisors LLC raised its stake in VNET Group by 52.2% during the 2nd 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 during the period. Finally, Raymond James Financial Inc. raised its stake in VNET Group by 14.5% during the 3rd quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock valued at $118,000 after purchasing an additional 1,446 shares during the period. Institutional investors own 72.83% of the company’s stock.

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.