VNET Group (NASDAQ:VNET) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of VNET Group (NASDAQ:VNET) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Several other analysts have also recently commented on the stock. Citigroup raised their target price on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group raised their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $3.10 to $5.00 in a report on Friday, November 29th. Finally, Nomura Securities raised VNET Group to a “strong-buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $7.98.

VNET Group Stock Up 12.0 %

VNET Group stock opened at $11.65 on Friday. VNET Group has a twelve month low of $1.42 and a twelve month high of $16.13. The stock has a 50 day moving average of $9.09 and a two-hundred day moving average of $5.51. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -5.25, a PEG ratio of 1.01 and a beta of 0.06.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The company had revenue of $307.75 million for the quarter, compared to analyst estimates of $284.88 million. As a group, research analysts expect that VNET Group will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On VNET Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC raised its holdings in VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 4,939 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in VNET Group in the 4th quarter valued at about $41,000. Catalina Capital Group LLC purchased a new position in VNET Group during the 4th quarter valued at about $54,000. Wolverine Trading LLC purchased a new position in VNET Group during the 3rd quarter valued at about $46,000. Finally, Hsbc Holdings PLC acquired a new position in VNET Group during the fourth quarter worth about $66,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.