VNET Group (NASDAQ:VNET) Upgraded at StockNews.com

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

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

VNET Group Stock Down 0.3 %

VNET Group stock traded down $0.02 during mid-day trading on Monday, reaching $6.27. 5,244,367 shares of the company were exchanged, compared to its average volume of 4,174,736. The business has a fifty day moving average of $8.21 and a 200 day moving average of $6.44. 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 firm has a market cap of $1.61 billion, a P/E ratio of -2.82, a PEG ratio of 1.01 and a beta of 0.15. VNET Group has a 12-month low of $1.71 and a 12-month high of $16.13.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VNET. Geode Capital Management LLC lifted its stake in VNET Group by 237.7% in the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider's stock valued at $1,218,000 after buying an additional 210,124 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of VNET Group in the 3rd quarter worth $519,000. JPMorgan Chase & Co. increased its holdings in VNET Group by 136,783.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider's stock valued at $558,000 after purchasing an additional 136,783 shares in the last quarter. SG Americas Securities LLC increased its holdings in VNET Group by 534.6% in the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider's stock valued at $1,931,000 after purchasing an additional 343,140 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in VNET Group by 29.1% in the 4th quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider's stock valued at $257,000 after purchasing an additional 12,237 shares in the last quarter. 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.