VNET Group (NASDAQ:VNET) Stock Price Up 9.2% – Still a Buy?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) shares shot up 9.2% on Wednesday . The stock traded as high as $11.97 and last traded at $12.1410. 5,411,277 shares changed hands during trading, a decline of 8% from the average session volume of 5,861,194 shares. The stock had previously closed at $11.12.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.30.

VNET Group Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. The firm has a market capitalization of $3.23 billion, a PE ratio of -40.25, a PEG ratio of 1.16 and a beta of -0.02. The stock’s 50 day moving average price is $9.07 and its two-hundred day moving average price is $8.88.

VNET Group (NASDAQ:VNET) last announced its earnings results on Thursday, November 20th. The information technology services provider reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. VNET Group had a negative return on equity of 3.42% and a negative net margin of 5.99%.The firm had revenue of $362.63 million for the quarter, compared to analysts’ expectations of $335.87 million. On average, equities analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On VNET Group

A number of hedge funds and other institutional investors have recently modified their holdings of VNET. Farther Finance Advisors LLC acquired a new position in shares of VNET Group in the 2nd quarter valued at $34,000. Public Employees Retirement System of Ohio raised its position in shares of VNET Group by 16.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock worth $101,000 after buying an additional 2,100 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in VNET Group in the second quarter valued at $194,000. Envestnet Asset Management Inc. grew its position in VNET Group by 21.5% during the second quarter. Envestnet Asset Management Inc. now owns 244,888 shares of the information technology services provider’s stock valued at $1,690,000 after acquiring an additional 43,392 shares during the period. Finally, Aperture Investors LLC acquired a new stake in VNET Group during the second quarter worth about $1,259,000. 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.