VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Receives $17.40 Consensus Price Target from Analysts

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $17.3975.

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $24.79 price objective on shares of VNET Group in a report on Tuesday, May 26th. Morgan Stanley reiterated an “overweight” rating and issued a $16.00 target price on shares of VNET Group in a research note on Wednesday, May 27th. Bank of America set a $16.30 target price on shares of VNET Group and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of VNET Group in a research report on Wednesday.

Insider Buying and Selling

In other VNET Group news, Director Sean Shao sold 60,000 shares of VNET Group stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.71, for a total transaction of $102,600.00. Following the transaction, the director owned 983,820 shares of the company’s stock, valued at $1,682,332.20. This trade represents a 5.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.10% of the company’s stock.

Institutional Trading of VNET Group

A number of institutional investors and hedge funds have recently modified their holdings of VNET. Triata Capital Ltd grew its stake in VNET Group by 4.6% in the 4th quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider’s stock valued at $105,740,000 after purchasing an additional 550,841 shares during the period. Norges Bank bought a new stake in shares of VNET Group during the 4th quarter worth $65,650,000. Farallon Capital Management LLC boosted its holdings in shares of VNET Group by 14.5% in the 4th quarter. Farallon Capital Management LLC now owns 6,285,386 shares of the information technology services provider’s stock worth $53,174,000 after buying an additional 796,266 shares during the last quarter. UBS Group AG boosted its holdings in shares of VNET Group by 73.2% in the 3rd quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider’s stock worth $44,250,000 after buying an additional 1,809,987 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in VNET Group by 674.8% during the second quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock valued at $23,067,000 after buying an additional 2,911,604 shares during the period. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Stock Performance

NASDAQ:VNET opened at $7.39 on Wednesday. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50-day moving average of $9.00 and a 200-day moving average of $9.66. The company has a market cap of $2.00 billion, a PE ratio of -5.39 and a beta of 0.28. VNET Group has a one year low of $7.10 and a one year high of $14.48.

VNET Group (NASDAQ:VNET) last posted its earnings results 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). The business had revenue of $390.32 million during the quarter, compared to analyst estimates of $388.47 million. VNET Group had a negative return on equity of 31.59% and a negative net margin of 22.01%. As a group, equities research analysts expect that VNET Group will post -0.24 EPS for the current fiscal year.

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.