VNET Group (NASDAQ:VNET) Hits New 12-Month Low – Should You Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) shares reached a new 52-week low during mid-day trading on Friday. The company traded as low as $2.88 and last traded at $2.9050, with a volume of 1,657,754 shares. The stock had previously closed at $3.09.

Wall Street Analyst Weigh In

Several research analysts recently commented on VNET shares. UBS Group cut their price target on shares of VNET Group from $13.40 to $6.80 and set a “buy” rating on the stock in a report on Friday, October 30th. Weiss Ratings lowered shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $14.00 price objective on shares of VNET Group in a research report on Wednesday, August 19th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.88.

VNET Group Stock Performance

The firm has a market capitalization of $802.00 million, a price-to-earnings ratio of -2.09 and a beta of 0.35. 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 fifty day moving average is $4.97 and its two-hundred day moving average is $8.01.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The firm had revenue of $409.00 million during the quarter, compared to analyst estimates of $401.77 million. VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. Analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VNET. Parallel Advisors LLC boosted its holdings in VNET Group by 26.8% in the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 1,160 shares during the last quarter. Drive Wealth Management LLC purchased a new stake in VNET Group during the 3rd quarter worth approximately $56,000. Nykredit A S purchased a new stake in VNET Group during the 2nd quarter worth approximately $89,000. Oppenheimer & Co. Inc. acquired a new position in shares of VNET Group in the 3rd quarter valued at approximately $62,000. Finally, Global Retirement Partners LLC raised its position in shares of VNET Group by 384.6% in the 3rd quarter. Global Retirement Partners LLC now owns 11,334 shares of the information technology services provider’s stock valued at $63,000 after purchasing an additional 8,995 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

About VNET Group

VNET Group, Inc., formerly known as 21Vianet Group, is a Chinese provider of carrier-neutral data center and information technology services. The company operates data centers that support businesses’ computing, storage and connectivity needs. Its services include data center hosting and colocation, managed network services, cloud services and related IT solutions. VNET also provides connectivity between data centers, customers and internet service providers. The company serves enterprises and other organizations in China, with facilities in major markets across the country.