StockNews.com Downgrades VNET Group (NASDAQ:VNET) to Sell

VNET Group (NASDAQ:VNET) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other equities analysts have also recently issued research reports about the company. Nomura Securities raised VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup raised their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $9.30.

VNET Group Stock Down 1.7 %

Shares of NASDAQ:VNET opened at $6.96 on Tuesday. VNET Group has a 52 week low of $1.71 and a 52 week high of $16.13. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $1.79 billion, a PE ratio of -3.14, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15. The firm has a 50 day simple moving average of $7.96 and a 200 day simple moving average of $6.53.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 4,939 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in VNET Group during the fourth quarter valued at approximately $41,000. Bingham Private Wealth LLC acquired a new stake in VNET Group in the first quarter valued at approximately $86,000. Catalina Capital Group LLC bought a new stake in VNET Group in the fourth quarter worth approximately $54,000. Finally, Hsbc Holdings PLC acquired a new position in shares of VNET Group during the 4th quarter worth $66,000. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Company Profile

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.