StockNews.com Upgrades VNET Group (NASDAQ:VNET) to Hold

StockNews.com upgraded shares of VNET Group (NASDAQ:VNET - Free Report) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Several other analysts have also recently commented on the company. Citigroup raised their target price on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $9.30.

VNET Group Trading Up 12.9 %

Shares of NASDAQ:VNET traded up $0.81 during midday trading on Monday, reaching $7.08. The company had a trading volume of 8,622,162 shares, compared to its average volume of 4,203,500. The company has a fifty day simple moving average of $8.08 and a two-hundred day simple moving average of $6.47. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -3.19, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15. VNET Group has a 1-year low of $1.71 and a 1-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.

VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). The firm had revenue of $307.75 million during the quarter, compared to analysts' expectations of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. Research analysts predict that VNET Group will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On VNET Group

Institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its holdings in VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of VNET Group in the fourth quarter worth about $41,000. Catalina Capital Group LLC bought a new stake in shares of VNET Group during the 4th quarter worth about $54,000. Hsbc Holdings PLC acquired a new position in shares of VNET Group during the 4th quarter valued at about $66,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of VNET Group in the 4th quarter valued at approximately $80,000. 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.