VNET Group, Inc. (NASDAQ:VNET) Given Consensus Recommendation of “Buy” by Brokerages

VNET Group, Inc. (NASDAQ:VNET) has received an average rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $9.30.

A number of equities research analysts have issued reports on VNET shares. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a report on Friday, February 21st. Citigroup raised their target price on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, StockNews.com lowered VNET Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th.

Institutional Trading of VNET Group

Institutional investors and hedge funds have recently modified their holdings of the company. Triata Capital Ltd bought a new stake in VNET Group in the 4th quarter valued at $47,377,000. Millennium Management LLC increased its stake in VNET Group by 3.4% in the fourth quarter. Millennium Management LLC now owns 5,578,371 shares of the information technology services provider’s stock valued at $26,441,000 after acquiring an additional 181,749 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in VNET Group by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,145,529 shares of the information technology services provider’s stock worth $10,170,000 after purchasing an additional 93,891 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in VNET Group during the fourth quarter worth about $7,183,000. Finally, Bank of America Corp DE grew its stake in shares of VNET Group by 610.2% in the 4th quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider’s stock valued at $5,682,000 after purchasing an additional 1,029,963 shares during the period. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Performance

Shares of NASDAQ VNET opened at $8.12 on Thursday. The business’s 50-day simple moving average is $10.11 and its 200-day simple moving average is $6.17. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. VNET Group has a 52 week low of $1.42 and a 52 week high of $16.13. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -3.66, a P/E/G ratio of 1.01 and a beta of 0.07.

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

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.