VNET Group (NASDAQ:VNET) Reaches New 12-Month Low – What’s Next?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $7.07 and last traded at $7.1650, with a volume of 1870388 shares. The stock had previously closed at $7.21.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VNET. Morgan Stanley reaffirmed an “overweight” rating and set a $16.00 target price on shares of VNET Group in a research note on Wednesday, May 27th. Zacks Research upgraded shares of VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $24.79 target price on shares of VNET Group in a report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of VNET Group in a research note on Tuesday, July 7th. They set a “buy” rating and a $12.50 target price for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, VNET Group presently has a consensus rating of “Moderate Buy” and an average target price of $17.40.

VNET Group Price Performance

The stock’s 50-day moving average is $8.64 and its 200 day moving average is $9.59. The stock has a market capitalization of $1.83 billion, a PE ratio of -4.93 and a beta of 0.28. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99.

VNET Group (NASDAQ:VNET) last issued its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($1.17). VNET Group had a negative return on equity of 31.59% and a negative net margin of 22.01%.The firm had revenue of $390.32 million during the quarter, compared to analyst estimates of $388.47 million. As a group, equities analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.24 earnings per share for the current year.

Insiders Place Their Bets

In other VNET Group news, Director Sean Shao sold 60,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the sale, the director owned 983,820 shares of the company’s stock, valued at $1,682,332.20. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Triata Capital Ltd boosted its position in VNET Group by 4.6% during the fourth quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider’s stock worth $105,740,000 after purchasing an additional 550,841 shares during the period. Norges Bank bought a new position in shares of VNET Group in the fourth quarter valued at approximately $65,650,000. Farallon Capital Management LLC lifted its stake in shares of VNET Group by 14.5% in the fourth quarter. Farallon Capital Management LLC now owns 6,285,386 shares of the information technology services provider’s stock worth $53,174,000 after buying an additional 796,266 shares during the last quarter. UBS Group AG lifted its stake in shares of VNET Group by 73.2% in the third quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider’s stock worth $44,250,000 after buying an additional 1,809,987 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of VNET Group by 674.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock worth $23,067,000 after buying an additional 2,911,604 shares during the period. 72.83% of the stock is owned by 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.