VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $17.3975.

A number of equities analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $16.00 price objective on shares of VNET Group in a report on Wednesday, May 27th. Jefferies Financial Group reiterated a “buy” rating and set a $24.79 target price on shares of VNET Group in a research note on Tuesday, May 26th. Zacks Research raised VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Bank of America set a $16.30 price target on VNET Group and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of VNET Group in a report on Wednesday, July 15th.

VNET Group Stock Performance

Shares of VNET stock opened at $7.45 on Friday. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -5.44 and a beta of 0.32. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99. VNET Group has a one year low of $6.17 and a one year high of $14.48. The company’s 50-day moving average is $7.93 and its 200 day moving average is $9.29.

VNET Group (NASDAQ:VNET) last issued its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $390.32 million during the quarter, compared to analysts’ expectations of $388.47 million. Sell-side analysts expect that VNET Group will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other VNET Group news, Director Sean Shao sold 60,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.10% of the company’s stock.

Institutional Trading of VNET Group

A number of institutional investors have recently made changes to their positions in VNET. Norges Bank purchased a new position in shares of VNET Group during the fourth quarter valued at approximately $65,650,000. Temasek Holdings Private Ltd boosted its holdings in VNET Group by 988.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 3,253,150 shares of the information technology services provider’s stock worth $27,522,000 after purchasing an additional 2,954,350 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in VNET Group by 674.8% in the second quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock worth $23,067,000 after purchasing an additional 2,911,604 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in VNET Group by 1,750.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,502,622 shares of the information technology services provider’s stock worth $21,172,000 after purchasing an additional 2,367,410 shares during the last quarter. Finally, Jefferies Financial Group Inc. grew its position in VNET Group by 1,419.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,979,000 shares of the information technology services provider’s stock worth $16,742,000 after purchasing an additional 2,129,000 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

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.