VNET Group (NASDAQ:VNET) Stock Falls 5.2% – Time to Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) shares traded down 5.2% during mid-day trading on Monday. The company traded as low as $3.06 and last traded at $2.9950. Approximately 397,896 shares traded hands during trading, a decline of 94% from the average daily volume of 6,266,285 shares. The stock had previously closed at $3.16.

Wall Street Analyst Weigh In

VNET has been the subject of several recent analyst reports. Weiss Ratings lowered shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. Morgan Stanley reiterated an “overweight” rating and issued a $14.00 target price on shares of VNET Group in a report on Wednesday, August 19th. Finally, UBS Group dropped their price target on shares of VNET Group from $13.40 to $6.80 and set a “buy” rating on the stock in a research report on Friday, October 30th. Five 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. Based on data from MarketBeat, VNET Group presently has a consensus rating of “Moderate Buy” and an average target price of $14.88.

VNET Group Trading Down 8.5%

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.35. The firm has a 50 day moving average of $5.09 and a 200 day moving average of $8.09. The firm has a market cap of $811.47 million, a PE ratio of -2.11 and a beta of 0.35.

VNET Group (NASDAQ:VNET) last released its earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. The firm had revenue of $409.00 million during the quarter, compared to analysts’ expectations of $401.77 million. Equities analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.51 earnings per share for the current year.

Hedge Funds Weigh In On VNET Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Infini Capital Management Ltd bought a new stake in shares of VNET Group in the second quarter valued at approximately $38,883,000. Carmignac Gestion boosted its holdings in VNET Group by 1,375.1% in the 2nd quarter. Carmignac Gestion now owns 4,760,599 shares of the information technology services provider’s stock worth $38,123,000 after buying an additional 4,437,879 shares during the period. Senvest Management LLC grew its stake in VNET Group by 211.7% in the 1st quarter. Senvest Management LLC now owns 2,779,637 shares of the information technology services provider’s stock valued at $23,321,000 after buying an additional 1,887,883 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in VNET Group by 20.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,623,594 shares of the information technology services provider’s stock valued at $22,012,000 after buying an additional 443,656 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in VNET Group by 16.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,470,654 shares of the information technology services provider’s stock valued at $12,330,000 after buying an additional 209,694 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

VNET Group Company Profile

VNET Group, Inc., formerly known as 21Vianet Group, is a Chinese provider of carrier-neutral data center and information technology services. The company operates data centers that support businesses’ computing, storage and connectivity needs. Its services include data center hosting and colocation, managed network services, cloud services and related IT solutions. VNET also provides connectivity between data centers, customers and internet service providers. The company serves enterprises and other organizations in China, with facilities in major markets across the country.