VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Given Average Rating of “Moderate Buy” by Analysts

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has earned an average rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.8975.

A number of analysts have commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $24.79 target price on shares of VNET Group in a report on Tuesday, May 26th. Weiss Ratings cut shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Wall Street Zen downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Morgan Stanley restated an “overweight” rating and issued a $14.00 price objective on shares of VNET Group in a research note on Wednesday, August 19th. Finally, Bank of America set a $16.30 target price on VNET Group and gave the stock a “buy” rating in a report on Tuesday, May 26th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Pinpoint Asset Management Singapore Pte. Ltd. lifted its position in shares of VNET Group by 1,849.6% during the 4th quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 764,056 shares of the information technology services provider’s stock valued at $6,464,000 after buying an additional 724,865 shares in the last quarter. FACT Capital LP purchased a new stake in VNET Group in the 1st quarter worth approximately $4,012,000. The Manufacturers Life Insurance Company increased its holdings in VNET Group by 20.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,623,594 shares of the information technology services provider’s stock worth $22,012,000 after acquiring an additional 443,656 shares in the last quarter. Janus Henderson Group PLC bought a new stake in VNET Group during the 1st quarter worth approximately $1,809,000. Finally, Regal Partners Ltd bought a new stake in VNET Group during the 1st quarter worth approximately $3,095,000. Institutional investors own 72.83% of the company’s stock.

VNET Group Trading Down 2.4%

Shares of NASDAQ:VNET opened at $6.07 on Thursday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -4.27 and a beta of 0.28. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50-day simple moving average is $7.33 and its two-hundred day simple moving average is $8.83. VNET Group has a 52-week low of $5.91 and a 52-week high of $14.48.

VNET Group (NASDAQ:VNET) last released its quarterly earnings results on Tuesday, August 18th. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. The business had revenue of $409.00 million for the quarter, compared to analysts’ expectations of $401.77 million. Analysts expect that VNET Group will post -0.27 EPS for the current year.

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.