VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Given Average Recommendation of “Moderate Buy” by Brokerages

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.3975.

VNET has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target 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 research report on Wednesday, May 27th. Bank of America set a $16.30 target price on shares of VNET Group and gave the company a “buy” rating in a research note on Tuesday, May 26th. Wall Street Zen cut shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of VNET Group in a report on Wednesday, July 15th.

VNET Group Trading Up 4.6%

VNET Group stock opened at $7.33 on Friday. The business has a 50 day moving average price of $8.16 and a two-hundred day moving average price of $9.38. 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 has a 12 month low of $6.17 and a 12 month high of $14.48. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -5.35 and a beta of 0.32.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data 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). The firm had revenue of $390.32 million for the quarter, compared to analyst estimates of $388.47 million. VNET Group had a negative return on equity of 31.59% and a negative net margin of 22.01%. As a group, equities analysts forecast that VNET Group will post -0.24 EPS for the current year.

Insider Activity at VNET Group

In related news, Director Sean Shao sold 60,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VNET. Geode Capital Management LLC lifted its holdings in shares of VNET Group by 3.2% during the second quarter. Geode Capital Management LLC now owns 241,964 shares of the information technology services provider’s stock valued at $1,670,000 after acquiring an additional 7,489 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of VNET Group by 1,201.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 511,417 shares of the information technology services provider’s stock worth $3,529,000 after purchasing an additional 472,115 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of VNET Group by 333.0% in the 2nd quarter. Quantbot Technologies LP now owns 18,805 shares of the information technology services provider’s stock worth $130,000 after purchasing an additional 14,462 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of VNET Group by 52.2% during the 2nd 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 in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of VNET Group during the 2nd quarter worth about $3,568,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.