VNET Group (NASDAQ:VNET) Trading Down 3.8% – Should You Sell?

VNET Group, Inc. (NASDAQ:VNET) traded down 3.8% during mid-day trading on Tuesday . The stock traded as low as $8.55 and last traded at $8.65. 818,525 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 3,271,248 shares. The stock had previously closed at $8.99.

Analysts Set New Price Targets

A number of brokerages recently commented on VNET. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. StockNews.com downgraded VNET Group from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $3.10 to $5.00 in a report on Friday, November 29th. Citigroup boosted their price objective on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Finally, UBS Group upped their price target on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.30.

VNET Group Stock Up 5.0 %

The company has a market cap of $2.29 billion, a PE ratio of -4.01, a P/E/G ratio of 1.01 and a beta of 0.07. The stock has a 50-day moving average of $9.88 and a 200-day moving average of $5.98. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

VNET Group (NASDAQ:VNET) last announced its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $307.75 million during the quarter, compared to the consensus estimate of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. Sell-side analysts predict that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VNET Group

Several hedge funds have recently bought and sold shares of the stock. Vident Advisory LLC increased its stake in VNET Group by 91.6% in the fourth quarter. Vident Advisory LLC now owns 283,296 shares of the information technology services provider’s stock valued at $1,343,000 after acquiring an additional 135,467 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of VNET Group during the 4th quarter valued at about $132,000. Two Sigma Investments LP bought a new stake in VNET Group in the 4th quarter worth approximately $2,911,000. Triata Capital Ltd purchased a new stake in VNET Group in the fourth quarter worth approximately $47,377,000. Finally, Sig Brokerage LP bought a new position in VNET Group during the fourth quarter valued at approximately $270,000. 72.83% of the stock is currently owned by institutional investors.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.