VNET Group (NASDAQ:VNET) Shares Gap Down – What’s Next?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s share price gapped down prior to trading on Friday . The stock had previously closed at $14.03, but opened at $13.15. VNET Group shares last traded at $13.3530, with a volume of 2,115,734 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VNET shares. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. One 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. According to MarketBeat.com, VNET Group has an average rating of “Moderate Buy” and a consensus price target of $16.30.

VNET Group Trading Down 1.6%

The business has a 50-day moving average of $10.12 and a 200 day moving average of $9.40. The stock has a market cap of $3.71 billion, a PE ratio of -46.00, a PEG ratio of 1.09 and a beta of 0.01. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.90 and a current ratio of 0.90.

VNET Group (NASDAQ:VNET) last released its quarterly earnings results on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. The company had revenue of $362.63 million for the quarter, compared to analysts’ expectations of $335.87 million. Equities research analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current fiscal year.

Institutional Trading of VNET Group

Several large investors have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new position in shares of VNET Group in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC increased its holdings in VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 1,426 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of VNET Group in the 2nd quarter valued at approximately $32,000. First Horizon Advisors Inc. purchased a new position in shares of VNET Group during the 2nd quarter valued at approximately $43,000. Finally, Allianz SE acquired a new stake in shares of VNET Group during the fourth quarter worth approximately $50,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

About VNET Group

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.