VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET) Given Average Recommendation of "Buy" by Brokerages

Key Points

• VNET Group, Inc. has received a consensus rating of "Buy" from six research firms, with an average target price of $9.30 per share.
• The company reported a loss of $0.12 earnings per share for the last quarter, significantly missing analyst estimates, alongside revenue of $309.52 million.
• Hedge funds and institutional investors now own 72.83% of VNET Group's stock, indicating strong interest and confidence in the company.

Shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) have received an average rating of "Buy" from the six research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $9.30.

Separately, Wall Street Zen upgraded VNET Group from a "sell" rating to a "hold" rating in a report on Sunday, July 13th.

VNET Group Stock Performance

Shares of VNET Group stock traded down $0.17 on Wednesday, reaching $7.98. The stock had a trading volume of 3,225,551 shares, compared to its average volume of 6,929,191. VNET Group has a fifty-two week low of $1.72 and a fifty-two week high of $16.13. The business's 50-day moving average price is $7.10 and its two-hundred day moving average price is $7.78. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $2.15 billion, a P/E ratio of -798.00, a price-to-earnings-growth ratio of 3.32 and a beta of 0.18.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). VNET Group had a net margin of 1.66% and a return on equity of 2.11%. The business had revenue of $309.52 million during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the business posted ($0.28) earnings per share. On average, sell-side analysts forecast that VNET Group will post -0.06 EPS for the current year.

VNET Group announced that its Board of Directors has approved a share buyback program on Friday, June 27th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the information technology services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Institutional Trading of VNET Group

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its position in VNET Group by 225.9% in the second quarter. SG Americas Securities LLC now owns 91,200 shares of the information technology services provider's stock worth $629,000 after purchasing an additional 63,214 shares during the period. Geode Capital Management LLC raised its stake in shares of VNET Group by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 241,964 shares of the information technology services provider's stock valued at $1,670,000 after buying an additional 7,489 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of VNET Group by 21.7% during the 2nd quarter. Wedbush Securities Inc. now owns 29,164 shares of the information technology services provider's stock worth $201,000 after acquiring an additional 5,202 shares during the period. First Horizon Advisors Inc. acquired a new stake in shares of VNET Group during the 2nd quarter valued at about $43,000. Finally, AdvisorShares Investments LLC increased its stake in VNET Group by 24.5% in the second quarter. AdvisorShares Investments LLC now owns 168,691 shares of the information technology services provider's stock valued at $1,164,000 after acquiring an additional 33,193 shares during the period. Institutional investors and hedge funds own 72.83% of the company's stock.

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.