VNET Group (NASDAQ:VNET) Hits New 1-Year Low – What’s Next?

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) reached a new 52-week low on Wednesday. The company traded as low as $3.57 and last traded at $3.5450, with a volume of 1,013,480 shares traded. The stock had previously closed at $3.77.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group reissued a “buy” rating and set a $6.80 price target on shares of VNET Group in a research report on Friday. Morgan Stanley reissued an “overweight” rating and issued a $14.00 price objective on shares of VNET Group in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft assumed coverage on VNET Group in a report on Tuesday, July 7th. They issued a “buy” rating and a $12.50 price target for the company. Finally, 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. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.88.

VNET Group Stock Down 9.2%

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 firm’s 50-day moving average price is $5.63 and its two-hundred day moving average price is $8.40. The firm has a market cap of $911.55 million, a PE ratio of -2.37 and a beta of 0.23.

VNET Group (NASDAQ:VNET) last announced 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 net margin of 22.29% and a negative return on equity of 36.25%. As a group, equities research analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On VNET Group

Several large investors have recently added to or reduced their stakes in VNET. Infini Capital Management Ltd bought a new position in VNET Group during the 2nd quarter valued at $38,883,000. Carmignac Gestion grew its position in VNET Group by 1,375.1% during the second quarter. Carmignac Gestion now owns 4,760,599 shares of the information technology services provider’s stock valued at $38,123,000 after purchasing an additional 4,437,879 shares in the last quarter. Senvest Management LLC boosted its stake in shares of VNET Group by 211.7% during the 1st quarter. Senvest Management LLC now owns 2,779,637 shares of the information technology services provider’s stock valued at $23,321,000 after buying an additional 1,887,883 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of VNET Group by 20.4% during the first quarter. The Manufacturers Life Insurance Company now owns 2,623,594 shares of the information technology services provider’s stock worth $22,012,000 after acquiring an additional 443,656 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in VNET Group by 16.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,470,654 shares of the information technology services provider’s stock valued at $12,330,000 after purchasing an additional 209,694 shares during the last quarter. 72.83% of the stock is currently owned by institutional investors.

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.