VNET Group (NASDAQ:VNET) Share Price Passes Above 200-Day Moving Average – What’s Next?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.84 and traded as high as $9.67. VNET Group shares last traded at $9.65, with a volume of 2,826,926 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VNET. Bank of America increased their price target on VNET Group from $11.80 to $12.60 and gave the company a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of VNET Group in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.15.

VNET Group Stock Down 3.2%

The firm’s 50 day simple moving average is $9.57 and its 200-day simple moving average is $7.86. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -120.63, a P/E/G ratio of 6.37 and a beta of 0.19. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97.

VNET Group (NASDAQ:VNET) last posted its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $339.65 million during the quarter, compared to analysts’ expectations of $2.27 billion. VNET Group had a net margin of 0.74% and a return on equity of 0.98%. VNET Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current year.

Institutional Trading of VNET Group

A number of hedge funds have recently added to or reduced their stakes in VNET. EverSource Wealth Advisors LLC grew its stake in VNET Group by 52.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 1,426 shares during the last quarter. Quantbot Technologies LP purchased a new position in VNET Group during the first quarter worth about $36,000. FNY Investment Advisers LLC acquired a new stake in VNET Group in the 2nd quarter worth about $32,000. Summit Securities Group LLC purchased a new stake in VNET Group in the 1st quarter valued at about $40,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of VNET Group during the 2nd quarter worth about $34,000. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Company Profile

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.