21Vianet Group, Inc. (NASDAQ:VNET) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, The Fly reports.

Separately, BidaskClub upgraded shares of 21Vianet Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th.

Shares of 21Vianet Group (VNET) opened at 5.81 on Wednesday. The company’s market cap is $653.63 million. The company has a 50 day moving average of $5.38 and a 200-day moving average of $5.23. 21Vianet Group has a 12-month low of $4.17 and a 12-month high of $8.52.

ILLEGAL ACTIVITY WARNING: This report was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/10/04/21vianet-group-inc-vnet-upgraded-to-overweight-by-morgan-stanley.html.

Institutional investors and hedge funds have recently modified their holdings of the stock. SPQ Asia Capital Ltd bought a new position in 21Vianet Group in the fourth quarter valued at about $19,444,000. Fosun International Ltd increased its position in shares of 21Vianet Group by 21.4% during the 4th quarter. Fosun International Ltd now owns 1,323,958 shares of the information technology services provider’s stock valued at $27,989,000 after purchasing an additional 233,186 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 21Vianet Group by 149.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 655,611 shares of the information technology services provider’s stock valued at $3,602,000 after purchasing an additional 392,311 shares during the last quarter. Pacific Alternative Asset Management Company LLC increased its position in shares of 21Vianet Group by 8.3% during the 4th quarter. Pacific Alternative Asset Management Company LLC now owns 551,648 shares of the information technology services provider’s stock valued at $11,662,000 after purchasing an additional 42,400 shares during the last quarter. Finally, Myriad Asset Management Ltd. purchased a new stake in shares of 21Vianet Group during the 4th quarter valued at about $3,114,000. 19.74% of the stock is owned by institutional investors.

About 21Vianet Group

21Vianet Group, Inc is a carrier-neutral Internet data center services provider. The Company hosts its customers’ servers and networking equipment and provides interconnectivity. The Company also provides managed network services to enable customers to deliver data across the Internet through its data transmission network and smart routing technology.

The Fly

Receive News & Ratings for 21Vianet Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 21Vianet Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.