VNET Group, Inc. (NASDAQ:VNET – Get Free Report) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 7,220,000 shares, a decline of 13.2% from the May 31st total of 8,320,000 shares. Based on an average daily volume of 901,400 shares, the days-to-cover ratio is presently 8.0 days.
Analysts Set New Price Targets
Several research firms recently commented on VNET. Bank of America raised VNET Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $3.90 to $2.70 in a research note on Tuesday, March 19th. StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd.
Get Our Latest Analysis on VNET
Institutional Inflows and Outflows
VNET Group Stock Up 1.0 %
VNET stock opened at $2.10 on Monday. The firm has a market capitalization of $540.54 million, a PE ratio of -0.79 and a beta of -0.33. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. VNET Group has a twelve month low of $1.39 and a twelve month high of $3.88. The stock’s 50 day moving average is $1.99 and its 200-day moving average is $1.97.
VNET Group (NASDAQ:VNET – Get Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The information technology services provider reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.13). The company had revenue of $262.89 million for the quarter, compared to the consensus estimate of $258.78 million. VNET Group had a negative net margin of 39.32% and a negative return on equity of 15.69%.
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.
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