VNET Group, Inc. – Unsponsored ADR (VNET) – What Are Investment Firms Thinking About This Stock?

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $16.90.

A number of research firms have weighed in on VNET. Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 price objective on shares of VNET Group in a research report on Wednesday, August 19th. Wall Street Zen lowered VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft began coverage on VNET Group in a research note on Tuesday, July 7th. They set a “buy” rating and a $12.50 price target for the company. Finally, Weiss Ratings downgraded VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st.

Hedge Funds Weigh In On VNET Group

A number of large investors have recently bought and sold shares of the company. Sei Investments Co. raised its position in VNET Group by 3.0% during the 1st quarter. Sei Investments Co. now owns 37,602 shares of the information technology services provider’s stock worth $316,000 after buying an additional 1,098 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of VNET Group by 26.8% during the first 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 during the period. Personal CFO Solutions LLC raised its holdings in VNET Group by 4.6% during the first quarter. Personal CFO Solutions LLC now owns 37,199 shares of the information technology services provider’s stock worth $312,000 after purchasing an additional 1,637 shares in the last quarter. Leonteq Securities AG acquired a new stake in VNET Group in the first quarter valued at about $25,000. Finally, Squarepoint Ops LLC lifted its position in VNET Group by 4.8% in the second quarter. Squarepoint Ops LLC now owns 71,893 shares of the information technology services provider’s stock valued at $578,000 after purchasing an additional 3,312 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $3.79 on Friday. VNET Group has a one year low of $3.62 and a one year high of $14.48. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -2.67 and a beta of 0.23. The company has a 50-day simple moving average of $5.97 and a 200-day simple moving average of $7.66. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97.

VNET Group (NASDAQ:VNET) last released its quarterly earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The company had revenue of $409.00 million for the quarter, compared to analysts’ expectations of $401.77 million. VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. On average, analysts predict that VNET Group will post -0.48 EPS for the current year.

VNET Group Company Profile

VNET Group, Inc (NASDAQ:VNET), formerly known as 21Vianet Group, is a provider of data center and information technology infrastructure services in China. Founded in 1999, the company operates carrier-neutral data centers that allow customers to house servers and other equipment while connecting to multiple telecommunications and internet networks.

VNET’s services include data center hosting, cloud computing, managed network services, internet connectivity, content delivery and hybrid cloud solutions.