VNET Group (NASDAQ:VNET) Shares Gap Down – Should You Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $9.39, but opened at $9.03. VNET Group shares last traded at $9.1050, with a volume of 1,131,786 shares traded.

Analyst Ratings Changes

Several research analysts have issued reports on VNET shares. Bank of America reissued a “buy” rating on shares of VNET Group in a research report on Monday, March 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $23.55 target price on shares of VNET Group in a report on Monday, March 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.08.

VNET Group Trading Down 2.1%

The company has a debt-to-equity ratio of 2.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -31.71 and a beta of 0.16. The business’s 50-day simple moving average is $10.16 and its 200-day simple moving average is $9.79.

VNET Group (NASDAQ:VNET) last announced its earnings results on Monday, March 16th. The information technology services provider reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). The business had revenue of $384.07 million for the quarter, compared to analyst estimates of $368.64 million. VNET Group had a positive return on equity of 1.36% and a negative net margin of 2.48%. Research analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at VNET Group

In related news, Director David Lifeng Chen sold 83,544 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.51, for a total value of $126,151.44. Following the completion of the sale, the director directly owned 334,164 shares in the company, valued at approximately $504,587.64. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On VNET Group

Several institutional investors have recently bought and sold shares of the business. Orion Porfolio Solutions LLC grew its stake in VNET Group by 6.1% during the third quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider’s stock worth $222,000 after buying an additional 1,237 shares during the period. EverSource Wealth Advisors LLC grew its stake in VNET Group by 52.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after buying an additional 1,426 shares during the period. Raymond James Financial Inc. grew its stake in VNET Group by 14.5% during the third quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock worth $118,000 after buying an additional 1,446 shares during the period. Farther Finance Advisors LLC grew its stake in VNET Group by 13.3% during the fourth quarter. Farther Finance Advisors LLC now owns 13,689 shares of the information technology services provider’s stock worth $116,000 after buying an additional 1,611 shares during the period. Finally, Main Management ETF Advisors LLC grew its stake in VNET Group by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 183,222 shares of the information technology services provider’s stock worth $1,550,000 after buying an additional 1,872 shares during the period. 72.83% of the stock is currently 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.