VNET Group (NASDAQ:VNET) Trading Down 3.7% – Should You Sell?

VNET Group, Inc. (NASDAQ:VNET) shares traded down 3.7% during mid-day trading on Friday . The company traded as low as $11.20 and last traded at $11.63. 842,660 shares changed hands during trading, a decline of 91% from the average session volume of 9,258,330 shares. The stock had previously closed at $12.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group boosted their price objective on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday, November 29th. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $3.10 to $5.00 in a report on Friday, November 29th. Finally, Nomura Securities upgraded VNET Group to a “strong-buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, VNET Group presently has an average rating of “Buy” and a consensus price target of $4.78.

VNET Group Trading Down 5.0 %

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 50-day simple moving average of $8.59 and a two-hundred day simple moving average of $5.28. The firm has a market capitalization of $2.95 billion, a P/E ratio of -5.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.07.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Barclays PLC raised its position in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 4,939 shares in the last quarter. Headlands Technologies LLC raised its position in shares of VNET Group by 5.7% in the 4th quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after acquiring an additional 7,737 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of VNET Group in the 4th quarter worth $41,000. Catalina Capital Group LLC bought a new position in shares of VNET Group in the 4th quarter worth $54,000. Finally, Wolverine Trading LLC acquired a new position in VNET Group during the 3rd quarter valued at about $46,000. 72.83% of the stock is owned by institutional investors.

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.