VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Given Consensus Rating of “Hold” by Analysts

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been given an average recommendation of “Hold” by the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $19.03.

A number of research firms have recently commented on VNET. Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Bank of America set a $16.30 price objective on VNET Group and gave the stock a “buy” rating in a report on Tuesday, May 26th. Morgan Stanley restated an “overweight” rating and issued a $16.00 price objective on shares of VNET Group in a report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research note on Friday, March 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $24.79 target price on shares of VNET Group in a research note on Tuesday, May 26th.

Insider Transactions at VNET Group

In other news, Director Sean Shao sold 60,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the sale, the director owned 983,820 shares in the company, valued at approximately $1,682,332.20. This trade represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Lifeng Chen sold 83,544 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $1.51, for a total value of $126,151.44. Following the completion of the sale, the director owned 334,164 shares of the company’s stock, valued at approximately $504,587.64. This trade represents a 20.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 152,616 shares of company stock valued at $244,083. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On VNET Group

A number of large investors have recently modified their holdings of VNET. Leonteq Securities AG acquired a new stake in shares of VNET Group in the first quarter valued at about $25,000. Global Retirement Partners LLC acquired a new stake in shares of VNET Group in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $29,000 after purchasing an additional 1,426 shares in the last quarter. Parallel Advisors LLC grew its stake in 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 valued at $46,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Allianz SE acquired a new stake in VNET Group during the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Stock Performance

VNET Group stock opened at $8.75 on Friday. The stock’s 50-day moving average is $9.35 and its 200-day moving average is $9.78. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -6.39 and a beta of 0.25. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99. VNET Group has a 12 month low of $5.31 and a 12 month high of $14.48.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Tuesday, May 26th. The information technology services provider reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). The firm had revenue of $390.32 million during the quarter, compared to analysts’ expectations of $388.47 million. VNET Group had a negative return on equity of 31.59% and a negative net margin of 22.01%. Equities analysts anticipate that VNET Group will post -0.24 earnings per share for the current 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.