VNET Group (NASDAQ:VNET) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of VNET Group (NASDAQ:VNET) from a hold rating to a sell rating in a research report report published on Tuesday morning.

A number of other equities research analysts also recently issued reports on the stock. Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a report on Friday, February 21st. Citigroup upped their target price on VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $9.30.

VNET Group Stock Down 1.9 %

VNET opened at $6.83 on Tuesday. VNET Group has a 12 month low of $1.71 and a 12 month high of $16.13. The company has a market cap of $1.76 billion, a PE ratio of -3.08, a price-to-earnings-growth ratio of 1.01 and a beta of 0.14. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The company has a 50 day moving average of $7.86 and a 200 day moving average of $6.53.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The company had revenue of $307.75 million during the quarter, compared to the consensus estimate of $284.88 million. On average, sell-side analysts expect that VNET Group will post -0.06 EPS for the current year.

Institutional Investors Weigh In On VNET Group

A number of large investors have recently added to or reduced their stakes in VNET. Geode Capital Management LLC raised its holdings in shares of VNET Group by 237.7% during the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock valued at $1,218,000 after buying an additional 210,124 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in VNET Group during the fourth quarter valued at approximately $152,000. JPMorgan Chase & Co. raised its stake in shares of VNET Group by 136,783.0% during the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock worth $558,000 after acquiring an additional 136,783 shares in the last quarter. Norges Bank bought a new stake in shares of VNET Group in the 4th quarter worth approximately $1,708,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of VNET Group in the 4th quarter valued at $294,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.