VNET Group, Inc. (NASDAQ:VNET) Given Consensus Recommendation of “Buy” by Brokerages

VNET Group, Inc. (NASDAQ:VNET) has been assigned an average recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $9.30.

VNET has been the subject of several recent analyst reports. Nomura Securities raised VNET Group to a “strong-buy” rating in a report on Friday, February 21st. Citigroup raised their price target on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th.

VNET Group Stock Up 0.8%

VNET opened at $6.04 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50 day simple moving average of $6.42 and a 200-day simple moving average of $6.82. The stock has a market capitalization of $1.62 billion, a P/E ratio of -2.72, a P/E/G ratio of 1.01 and a beta of 0.14. VNET Group has a 12 month low of $1.71 and a 12 month high of $16.13.

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 the consensus estimate of $0.03 by ($0.04). The business had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. On average, equities analysts anticipate that VNET Group will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VNET Group

Several hedge funds and other institutional investors have recently bought and sold shares of VNET. JPMorgan Chase & Co. raised its holdings in 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 purchasing an additional 136,783 shares during the last quarter. SG Americas Securities LLC increased its position in VNET Group by 534.6% during the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock worth $1,931,000 after buying an additional 343,140 shares in the last quarter. Blue Trust Inc. increased its position in VNET Group by 29.1% during the fourth quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock worth $257,000 after buying an additional 12,237 shares in the last quarter. Catalina Capital Group LLC purchased a new position in VNET Group during the fourth quarter worth $54,000. Finally, Asset Management One Co. Ltd. purchased a new position in VNET Group during the fourth quarter worth $152,000. 72.83% of the stock is owned by institutional investors and hedge funds.

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.