VNET Group (NASDAQ:VNET) Cut to Sell at Wall Street Zen

VNET Group (NASDAQ:VNET - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently commented on VNET. 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. Nomura Securities raised VNET Group to a "strong-buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $9.30.

VNET Group Price Performance

VNET Group stock opened at $5.91 on Friday. VNET Group has a one year low of $1.71 and a one year high of $16.13. 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 business has a fifty day moving average of $5.95 and a two-hundred day moving average of $6.92. The company has a market cap of $1.59 billion, a P/E ratio of -2.66, a price-to-earnings-growth ratio of 1.01 and a beta of 0.09.

VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The business had revenue of $309.52 million during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the business posted ($0.28) EPS. As a group, analysts predict that VNET Group will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VNET. Triata Capital Ltd purchased a new position in shares of VNET Group in the fourth quarter valued at $47,377,000. Canada Pension Plan Investment Board purchased a new position in shares of VNET Group in the first quarter valued at $27,463,000. Taikang Asset Management Hong Kong Co Ltd purchased a new position in shares of VNET Group in the first quarter valued at $27,210,000. Royal Bank of Canada increased its position in shares of VNET Group by 2,304,491.9% in the first quarter. Royal Bank of Canada now owns 1,705,398 shares of the information technology services provider's stock valued at $13,985,000 after buying an additional 1,705,324 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in VNET Group during the 4th quarter worth about $7,183,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

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.

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