VNET Group (NASDAQ:VNET) Shares Gap Down to $4.30

Shares of VNET Group, Inc. (NASDAQ:VNET) gapped down prior to trading on Thursday . The stock had previously closed at $4.30, but opened at $4.12. VNET Group shares last traded at $4.15, with a volume of 123,494 shares trading hands.

Wall Street Analyst Weigh In

VNET has been the subject of a number of research reports. StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Citigroup started coverage on VNET Group in a research note on Wednesday, September 4th. They issued a “buy” rating and a $4.00 target price for the company.

VNET Group Stock Performance

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.47. The stock has a 50-day simple moving average of $2.56 and a 200-day simple moving average of $2.17. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.53, a price-to-earnings-growth ratio of 8.20 and a beta of -0.32.

VNET Group (NASDAQ:VNET) last released its earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. The company had revenue of $274.35 million during the quarter, compared to the consensus estimate of $266.56 million. On average, analysts anticipate that VNET Group, Inc. will post 0.02 earnings per share for the current year.

Institutional Investors Weigh In On VNET Group

Institutional investors have recently made changes to their positions in the company. Catalina Capital Group LLC bought a new position in shares of VNET Group in the 1st quarter worth about $26,000. Ballentine Partners LLC bought a new position in VNET Group during the 2nd quarter worth $36,000. AXA S.A. acquired a new stake in VNET Group in the second quarter worth $65,000. Headlands Technologies LLC lifted its stake in VNET Group by 1,199.7% in the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock valued at $66,000 after buying an additional 39,050 shares during the last quarter. Finally, Virtu Financial LLC grew its position in shares of VNET Group by 135.9% during the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock worth $293,000 after acquiring an additional 58,817 shares during the last quarter. 72.83% of the stock is currently owned by institutional investors.

About VNET Group

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.