VNET Group (NASDAQ:VNET) Stock Price Up 5.1% – What’s Next?

VNET Group, Inc. (NASDAQ:VNET)’s share price was up 5.1% during mid-day trading on Friday . The stock traded as high as $4.20 and last traded at $4.16. Approximately 742,714 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 1,510,517 shares. The stock had previously closed at $3.96.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VNET shares. StockNews.com upgraded VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Citigroup started coverage on shares of VNET Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 target price for the company.

VNET Group Price Performance

The company’s fifty day moving average price is $2.60 and its 200 day moving average price is $2.18. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -1.58, a price-to-earnings-growth ratio of 8.91 and a beta of -0.30. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.87 and a current ratio of 0.87.

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

Hedge Funds Weigh In On VNET Group

A number of hedge funds have recently modified their holdings of the business. Catalina Capital Group LLC purchased a new stake in shares of VNET Group during the first quarter valued at approximately $26,000. Susquehanna Fundamental Investments LLC bought a new position in shares of VNET Group in the 1st quarter worth about $328,000. Ballentine Partners LLC purchased a new stake in VNET Group during the 2nd quarter valued at $36,000. Virtu Financial LLC lifted its holdings in shares of VNET Group by 135.9% during the 4th quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock valued at $293,000 after buying an additional 58,817 shares during the period. Finally, Headlands Technologies LLC raised its stake in VNET Group by 1,199.7% during the 1st quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 39,050 shares during the period. Institutional investors and hedge funds 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.