VNET Group, Inc. (NASDAQ:VNET) Given Consensus Recommendation of "Buy" by Analysts

Shares of VNET Group, Inc. (NASDAQ:VNET - Get Free Report) have received a consensus recommendation of "Buy" from the six brokerages that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.30.

Several brokerages have weighed in on VNET. StockNews.com upgraded VNET Group from a "sell" rating to a "hold" rating in a research note on Monday. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Citigroup upped 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.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Triata Capital Ltd purchased a new position in shares of VNET Group in the 4th quarter worth about $47,377,000. Millennium Management LLC raised its stake in shares of VNET Group by 3.4% in the 4th 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. lifted its stake in shares of VNET Group by 4.6% during 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. acquired a new position in shares of VNET Group during the fourth quarter worth $7,183,000. Finally, Bank of America Corp DE increased its position in shares of VNET Group by 610.2% during the fourth quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider's stock worth $5,682,000 after acquiring an additional 1,029,963 shares during the last quarter. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Stock Down 0.4 %

NASDAQ VNET traded down $0.03 during trading on Monday, reaching $6.27. 4,011,293 shares of the company's stock were exchanged, compared to its average volume of 4,154,517. VNET Group has a 1 year low of $1.66 and a 1 year high of $16.13. The stock has a market cap of $1.61 billion, a P/E ratio of -2.82, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15. 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 has a 50 day moving average price of $8.35 and a two-hundred day moving average price of $6.43.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million for the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. On average, equities research analysts anticipate that VNET Group will post -0.06 EPS 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.