VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Given Average Recommendation of “Hold” by Brokerages

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $19.03.

VNET has been the subject of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $16.00 target price on shares of VNET Group in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Jefferies Financial Group reissued a “buy” rating and set a $24.79 target price on shares of VNET Group in a research report on Tuesday. Zacks Research raised shares of VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Bank of America set a $16.30 target price on shares of VNET Group and gave the stock a “buy” rating in a research report on Tuesday.

Insiders Place Their Bets

In other VNET Group news, Director David Lifeng Chen sold 83,544 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $1.51, for a total transaction of $126,151.44. Following the completion of the transaction, the director owned 334,164 shares of the company’s stock, valued at $504,587.64. The trade was a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VNET. Sei Investments Co. increased its holdings in shares of VNET Group by 3.0% during the 1st quarter. Sei Investments Co. now owns 37,602 shares of the information technology services provider’s stock worth $316,000 after purchasing an additional 1,098 shares during the period. Parallel Advisors LLC increased its holdings in shares of VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 1,160 shares during the period. Orion Porfolio Solutions LLC increased its holdings in shares of VNET Group by 6.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider’s stock worth $222,000 after purchasing an additional 1,237 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of 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 period. Finally, Raymond James Financial Inc. increased its holdings in shares of VNET Group by 14.5% during the 3rd quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock worth $118,000 after purchasing an additional 1,446 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Stock Down 5.1%

VNET stock opened at $10.08 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.92 and a debt-to-equity ratio of 3.99. VNET Group has a 1 year low of $5.14 and a 1 year high of $14.48. The company has a fifty day simple moving average of $9.10 and a 200 day simple moving average of $9.73. The firm has a market cap of $2.73 billion, a PE ratio of -7.36 and a beta of 0.19.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($1.17). VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. The business had revenue of $390.32 million during the quarter, compared to analyst estimates of $388.47 million. Sell-side analysts anticipate that VNET Group will post 0.23 EPS for the current fiscal year.

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.