VNET Group (NASDAQ:VNET) Shares Down 5.5% – Here’s What Happened

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s share price fell 5.5% on Wednesday . The company traded as low as $7.96 and last traded at $8.1810. 1,228,085 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 7,368,167 shares. The stock had previously closed at $8.66.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VNET. Weiss Ratings restated a “sell (d+)” rating on shares of VNET Group in a research report on Wednesday, October 8th. Wall Street Zen lowered VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Finally, Bank of America increased their target price on VNET Group from $11.80 to $12.60 and gave the company a “buy” rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.15.

VNET Group Stock Performance

The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a fifty day moving average of $9.71 and a 200 day moving average of $8.03. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -104.06, a PEG ratio of 6.37 and a beta of 0.19.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). VNET Group had a return on equity of 0.98% and a net margin of 0.74%.The firm had revenue of $339.65 million for the quarter, compared to analyst estimates of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted 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 worth $29,000 after acquiring an additional 1,426 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in VNET Group during the second quarter worth about $32,000. Farther Finance Advisors LLC acquired a new stake in shares of VNET Group during the second quarter worth about $34,000. Quantbot Technologies LP purchased a new position in shares of VNET Group in the first quarter valued at approximately $36,000. Finally, Summit Securities Group LLC acquired a new position in shares of VNET Group in the first quarter valued at approximately $40,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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.