VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Receives $19.03 Average Price Target from Brokerages

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been assigned an average rating of “Hold” from the five analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $19.03.

A number of brokerages have commented on VNET. Wall Street Zen upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th. Morgan Stanley restated an “overweight” rating and set a $16.00 price objective on shares of VNET Group in a report on Wednesday, May 27th. Finally, Jefferies Financial Group restated a “buy” rating and set a $24.79 price objective on shares of VNET Group in a report on Tuesday, May 26th.

VNET Group Stock Down 2.5%

NASDAQ VNET opened at $8.15 on Friday. The stock has a market cap of $2.20 billion, a PE ratio of -5.95 and a beta of 0.25. VNET Group has a fifty-two week low of $5.80 and a fifty-two week high of $14.48. The business has a 50 day moving average price of $9.34 and a two-hundred day moving average price of $9.78. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99.

VNET Group (NASDAQ:VNET) last released its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $390.32 million during the quarter, compared to analysts’ expectations of $388.47 million. As a group, sell-side analysts predict that VNET Group will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at VNET Group

In other news, Director Sean Shao sold 60,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the sale, the director owned 983,820 shares of the company’s stock, valued at approximately $1,682,332.20. The trade was a 5.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On VNET Group

Institutional investors have recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in shares of VNET Group by 3.0% in the 1st quarter. Sei Investments Co. now owns 37,602 shares of the information technology services provider’s stock valued at $316,000 after buying an additional 1,098 shares during the period. Parallel Advisors LLC boosted its holdings in shares of VNET Group by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 1,160 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of VNET Group by 6.1% in 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 buying an additional 1,237 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of VNET Group by 52.2% in 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 buying an additional 1,426 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in shares of VNET Group by 14.5% in 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 buying an additional 1,446 shares during the period. 72.83% of the stock is currently owned by institutional investors.

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.