VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Given Average Recommendation of “Moderate Buy” by Analysts

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 firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.8975.

Several research firms have recently weighed in on VNET. Jefferies Financial Group reaffirmed a “buy” rating and set a $24.79 price target on shares of VNET Group in a research note on Tuesday, May 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 target price on shares of VNET Group in a research report on Wednesday, August 19th. Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Bank of America set a $16.30 price target on VNET Group and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen lowered VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th.

Hedge Funds Weigh In On VNET Group

Large investors have recently bought and sold shares of the business. Leonteq Securities AG bought a new stake in VNET Group during the 1st quarter valued at $25,000. Global Retirement Partners LLC bought a new position in shares of VNET Group in the 4th quarter worth $27,000. EverSource Wealth Advisors LLC lifted its stake in shares of VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 1,426 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of 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 purchasing an additional 1,160 shares during the last quarter. Finally, Allianz SE purchased a new stake in shares of VNET Group during the 4th quarter worth $50,000. Institutional investors own 72.83% of the company’s stock.

VNET Group Trading Down 3.4%

NASDAQ VNET opened at $6.52 on Thursday. The stock has a market cap of $1.76 billion, a PE ratio of -4.59 and a beta of 0.27. VNET Group has a 12 month low of $5.91 and a 12 month high of $14.48. The company’s 50-day moving average price is $7.18 and its 200-day moving average price is $8.59. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 4.35.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share 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 the consensus estimate of $401.77 million. VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. Equities research analysts forecast that VNET Group will post -0.27 earnings per share for the current 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.