VNET Group (NASDAQ:VNET) Stock Rating Lowered by Zacks Research

VNET Group (NASDAQ:VNET) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Several other analysts have also weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $23.55 target price on shares of VNET Group in a report on Monday, March 16th. Wall Street Zen upgraded VNET Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Bank of America reiterated a “buy” rating on shares of VNET Group in a research report on Monday, March 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, VNET Group presently has a consensus rating of “Hold” and a consensus target price of $18.08.

VNET Group Stock Down 4.1%

Shares of VNET opened at $10.09 on Monday. The stock has a fifty day simple moving average of $9.12 and a two-hundred day simple moving average of $9.72. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $2.73 billion, a PE ratio of -34.79 and a beta of 0.19. VNET Group has a 52-week low of $5.14 and a 52-week high of $14.48.

VNET Group (NASDAQ:VNET) last released its earnings results on Monday, March 16th. The information technology services provider reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.04). VNET Group had a negative net margin of 2.48% and a positive return on equity of 1.36%. The firm had revenue of $384.07 million during the quarter, compared to analyst estimates of $368.64 million. As a group, equities analysts forecast that VNET Group will post 0.21 EPS for the current year.

Insider Buying and Selling at VNET Group

In other VNET Group news, Director David Lifeng Chen sold 83,544 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $1.51, for a total value of $126,151.44. Following the completion of the transaction, the director owned 334,164 shares of the company’s stock, valued at $504,587.64. This represents a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Leonteq Securities AG acquired a new position in shares of VNET Group in the 1st quarter valued at $25,000. Global Retirement Partners LLC acquired a new position in shares of VNET Group in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 1,426 shares during the period. Parallel Advisors LLC raised its stake in VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after buying an additional 1,160 shares during the period. Finally, Allianz SE acquired a new stake in VNET Group during the 4th quarter worth $50,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Company Profile

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.