VNET Group (NASDAQ:VNET) Downgraded to “Sell” at StockNews.com

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

Separately, Bank of America upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and lowered their target price for the company from $3.90 to $2.70 in a research note on Tuesday, March 19th.

VNET Group Stock Performance

NASDAQ:VNET opened at $1.82 on Friday. VNET Group has a 1 year low of $1.39 and a 1 year high of $3.91. The firm’s fifty day simple moving average is $1.66 and its 200 day simple moving average is $2.46. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $270.18 million, a PE ratio of -0.74 and a beta of -0.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VNET. Pacer Advisors Inc. acquired a new stake in VNET Group in the 4th quarter worth $2,021,000. Jump Financial LLC grew its position in VNET Group by 89.2% in the 3rd quarter. Jump Financial LLC now owns 41,869 shares of the information technology services provider’s stock worth $131,000 after purchasing an additional 19,734 shares during the last quarter. Quantbot Technologies LP acquired a new stake in VNET Group in the 3rd quarter worth $63,000. California Public Employees Retirement System grew its position in VNET Group by 7.6% in the 3rd quarter. California Public Employees Retirement System now owns 225,645 shares of the information technology services provider’s stock worth $706,000 after purchasing an additional 16,026 shares during the last quarter. Finally, Maven Securities LTD grew its position in VNET Group by 11.7% in the 3rd quarter. Maven Securities LTD now owns 127,973 shares of the information technology services provider’s stock worth $401,000 after purchasing an additional 13,447 shares during the last quarter. 72.83% of the stock is currently 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.