VNET Group (NASDAQ:VNET) Stock Rating Lowered by StockNews.com

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

VNET has been the topic of a number of other research reports. Citigroup upped their target price on shares of VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday. UBS Group boosted their price objective on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday, November 29th. Nomura Securities raised VNET Group to a “strong-buy” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $7.98.

VNET Group Stock Performance

Shares of NASDAQ:VNET opened at $11.65 on Friday. The company has a market cap of $3.00 billion, a P/E ratio of -5.25, a PEG ratio of 1.01 and a beta of 0.06. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. VNET Group has a one year low of $1.42 and a one year high of $16.13. The business’s 50-day simple moving average is $9.23 and its 200 day simple moving average is $5.60.

VNET Group (NASDAQ:VNET) last announced 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). The business had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. On average, sell-side analysts forecast that VNET Group will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VNET Group

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in VNET Group by 237.7% during the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock worth $1,218,000 after purchasing an additional 210,124 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in VNET Group during the fourth quarter worth approximately $152,000. JPMorgan Chase & Co. grew its position in VNET Group by 136,783.0% in the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock worth $558,000 after buying an additional 136,783 shares during the last quarter. Virtu Financial LLC acquired a new position in VNET Group in the third quarter worth approximately $519,000. Finally, SG Americas Securities LLC grew its position in VNET Group by 534.6% in the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock worth $1,931,000 after buying an additional 343,140 shares during the last quarter. Institutional investors own 72.83% of the company’s stock.

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.