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

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has received a consensus rating of “Hold” from the five research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.03.

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

VNET Group Price Performance

Shares of NASDAQ VNET opened at $8.75 on Friday. VNET Group has a fifty-two week low of $5.31 and a fifty-two week high of $14.48. The business has a 50 day moving average price of $9.35 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. The firm has a market cap of $2.37 billion, a PE ratio of -6.39 and a beta of 0.25.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data 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 net margin of 22.01% and a negative return on equity of 31.59%. The business had revenue of $390.32 million for the quarter, compared to analyst estimates of $388.47 million. Sell-side analysts expect that VNET Group will post -0.24 earnings per share for the current fiscal year.

Insider Activity at VNET Group

In other news, Director David Lifeng Chen sold 83,544 shares of VNET Group stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $1.51, for a total value of $126,151.44. Following the completion of the transaction, the director owned 334,164 shares in the company, valued at approximately $504,587.64. This trade represents a 20.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sean Shao sold 60,000 shares of VNET Group stock in a transaction that occurred on 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 SEC filing for this sale provides additional information. In the last quarter, insiders sold 152,616 shares of company stock valued at $244,083. Insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VNET. Leonteq Securities AG acquired a new position in shares of VNET Group in the 1st quarter worth approximately $25,000. Global Retirement Partners LLC acquired a new position in shares of VNET Group in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its position 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 worth $29,000 after acquiring an additional 1,426 shares in the last quarter. Parallel Advisors LLC grew its position 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 worth $46,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Allianz SE bought a new stake in shares of VNET Group in the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

About VNET Group

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.