VNET Group (NASDAQ:VNET) Stock Price Down 5.5% – Should You Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s stock price fell 5.5% on Thursday . The company traded as low as $7.53 and last traded at $7.7050. Approximately 1,418,878 shares were traded during trading, a decline of 80% from the average session volume of 7,212,473 shares. The stock had previously closed at $8.15.

Wall Street Analyst Weigh In

A number of analysts have issued reports on VNET shares. Jefferies Financial Group reissued a “buy” rating and issued a $24.79 target price on shares of VNET Group in a research report on Tuesday, May 26th. Wall Street Zen lowered VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research note on Friday, March 27th. Morgan Stanley reiterated an “overweight” rating and issued a $16.00 price objective on shares of VNET Group in a report on Wednesday, May 27th. Finally, Bank of America set a $16.30 target price on VNET Group and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.03.

VNET Group Stock Performance

The firm’s 50 day moving average is $9.29 and its two-hundred day moving average is $9.75. The stock has a market capitalization of $2.07 billion, a PE ratio of -5.58 and a beta of 0.25. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99.

VNET Group (NASDAQ:VNET) last released its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). The business 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, research analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.24 earnings per share for the current year.

Insider Transactions at VNET Group

In related news, Director Sean Shao sold 60,000 shares of VNET Group 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 completion of the transaction, the director directly owned 983,820 shares in the company, valued at approximately $1,682,332.20. This trade represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On VNET Group

A number of hedge funds have recently bought and sold shares of the stock. Leonteq Securities AG purchased a new position in shares of VNET Group in the 1st quarter valued at about $25,000. Global Retirement Partners LLC purchased a new stake in shares of VNET Group during the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its stake in shares of 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. Parallel Advisors LLC raised its holdings 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 valued at $46,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Allianz SE acquired a new stake in VNET Group in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

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.