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

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

Other equities research analysts have also issued research reports about the stock. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Citigroup upped their target price on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, VNET Group presently has an average rating of "Buy" and a consensus target price of $9.30.

VNET Group Stock Performance

VNET stock traded down $0.09 on Friday, reaching $6.06. 2,249,338 shares of the company were exchanged, compared to its average volume of 4,676,368. VNET Group has a 12 month low of $1.71 and a 12 month high of $16.13. The stock's fifty day moving average price is $5.88 and its 200 day moving average price is $6.97. The firm has a market capitalization of $1.63 billion, a PE ratio of -2.73, a PEG ratio of 1.01 and a beta of 0.09. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83.

VNET Group (NASDAQ:VNET - Get Free Report) last announced 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). The business had revenue of $309.52 million during the quarter, compared to the consensus estimate of $2.22 billion. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. During the same period last year, the firm earned ($0.28) EPS. On average, research analysts anticipate that VNET Group will post -0.06 EPS for the current fiscal year.

Institutional Trading of VNET Group

Several hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of VNET Group in the first quarter valued at approximately $36,000. Summit Securities Group LLC acquired a new stake in shares of VNET Group in the first quarter valued at approximately $40,000. Barclays PLC raised its holdings in shares of VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 4,939 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of VNET Group in the fourth quarter valued at approximately $41,000. Finally, Liontrust Investment Partners LLP acquired a new stake in shares of VNET Group in the first quarter valued at approximately $78,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.