VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Receives $20.55 Average Target Price from Brokerages

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been assigned an average rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $19.03.

Several equities research analysts recently commented on VNET shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $16.00 price objective on shares of VNET Group in a research report on Wednesday, May 27th. Bank of America set a $16.30 price objective on VNET Group and gave the company a “buy” rating in a research report on Tuesday, May 26th. Wall Street Zen raised VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $10.60 on Tuesday. VNET Group has a 1-year low of $5.31 and a 1-year high of $14.48. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day moving average price of $9.13 and a 200-day moving average price of $9.73. The company has a market capitalization of $2.87 billion, a PE ratio of -7.74 and a beta of 0.24.

VNET Group (NASDAQ:VNET) last issued its quarterly 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 net margin of 22.01% and a negative return on equity of 31.59%. The company had revenue of $390.32 million for the quarter, compared to the consensus estimate of $388.47 million. As a group, equities analysts expect that VNET Group will post 0.23 EPS for the current fiscal year.

Insider Activity at VNET Group

In related news, Director David Lifeng Chen sold 83,544 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $1.51, for a total transaction of $126,151.44. Following the sale, the director directly owned 334,164 shares of the company’s stock, valued at $504,587.64. This trade represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Leonteq Securities AG purchased a new position in VNET Group in the first quarter worth about $25,000. Global Retirement Partners LLC purchased a new position in VNET Group in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its position in 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 purchasing an additional 1,426 shares during the last quarter. Parallel Advisors LLC boosted its position in VNET Group by 26.8% in the first 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 position in VNET Group in the fourth quarter worth about $50,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

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.