VNET Group (NASDAQ:VNET) Shares Gap Down – Time to Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s share price gapped down prior to trading on Friday . The stock had previously closed at $14.03, but opened at $13.15. VNET Group shares last traded at $13.3530, with a volume of 2,115,734 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, VNET Group has an average rating of “Moderate Buy” and a consensus price target of $16.30.

VNET Group Trading Down 2.2%

The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a fifty day simple moving average of $10.02 and a two-hundred day simple moving average of $9.36. The firm has a market capitalization of $3.69 billion, a P/E ratio of -45.76, a price-to-earnings-growth ratio of 1.07 and a beta of 0.01.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings results on Thursday, November 20th. The information technology services provider reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. VNET Group had a negative return on equity of 3.42% and a negative net margin of 5.99%.The firm had revenue of $362.63 million for the quarter, compared to analysts’ expectations of $335.87 million. On average, equities research analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of VNET Group

A number of institutional investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC grew its stake in VNET Group by 6.1% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider’s stock valued at $222,000 after buying an additional 1,237 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of VNET Group by 52.2% in the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 1,426 shares during the period. Raymond James Financial Inc. grew its position in shares of VNET Group by 14.5% in the third quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock valued at $118,000 after purchasing an additional 1,446 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of VNET Group by 13.3% during the 4th quarter. Farther Finance Advisors LLC now owns 13,689 shares of the information technology services provider’s stock valued at $116,000 after purchasing an additional 1,611 shares during the period. Finally, Main Management ETF Advisors LLC raised its stake in shares of VNET Group by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 183,222 shares of the information technology services provider’s stock valued at $1,550,000 after purchasing an additional 1,872 shares during the period. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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.