VNET Group (NASDAQ:VNET) Trading Down 1.8% – Should You Sell?

VNET Group, Inc. (NASDAQ:VNET) fell 1.8% during mid-day trading on Tuesday . The stock traded as low as $4.90 and last traded at $4.93. 655,782 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 1,666,763 shares. The stock had previously closed at $5.02.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $3.10 to $5.00 in a research report on Friday, November 29th. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective on the stock in a report on Wednesday, October 9th. UBS Group boosted their price objective on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup started coverage on shares of VNET Group in a research report on Wednesday, September 4th. They set a “buy” rating and a $4.00 price target for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $4.78.

VNET Group Stock Down 4.6 %

The company has a market capitalization of $1.23 billion, a PE ratio of -2.16 and a beta of -0.19. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The company’s 50-day moving average is $3.76 and its 200 day moving average is $3.02.

Institutional Trading of VNET Group

Several institutional investors have recently added to or reduced their stakes in the business. Wolverine Trading LLC bought a new position in shares of VNET Group during the third quarter valued at $46,000. Ballentine Partners LLC bought a new position in VNET Group during the 2nd quarter valued at about $36,000. Walleye Capital LLC purchased a new stake in shares of VNET Group during the 3rd quarter valued at about $115,000. AXA S.A. bought a new stake in shares of VNET Group in the second quarter worth approximately $65,000. Finally, Blue Trust Inc. raised its holdings in shares of VNET Group by 785.4% during the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after purchasing an additional 37,322 shares during the last quarter. 72.83% of the stock is currently owned by hedge funds and other 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.