Wall Street Zen Upgrades VNET Group (NASDAQ:VNET) to "Hold"

VNET Group (NASDAQ:VNET - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

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

VNET Group Stock Down 2.0%

Shares of NASDAQ VNET traded down $0.11 during trading on Friday, hitting $5.44. The stock had a trading volume of 3,229,190 shares, compared to its average volume of 4,723,545. The firm has a fifty day moving average of $5.84 and a two-hundred day moving average of $7.02. The company has a market capitalization of $1.46 billion, a PE ratio of -544.00, a PEG ratio of 1.23 and a beta of 0.09. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10. 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 issued its quarterly 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). The business had revenue of $309.52 million for the quarter, compared to the consensus estimate of $2.22 billion. VNET Group had a return on equity of 2.11% and a net margin of 1.66%. During the same quarter last year, the business posted ($0.28) earnings per share. As a group, equities research analysts forecast that VNET Group will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On VNET Group

Hedge funds have recently bought and sold shares of the company. Triata Capital Ltd bought a new stake in VNET Group in the 4th quarter worth approximately $47,377,000. Canada Pension Plan Investment Board purchased a new position in shares of VNET Group in the 1st quarter worth $27,463,000. Taikang Asset Management Hong Kong Co Ltd bought a new stake in shares of VNET Group in the first quarter worth $27,210,000. Royal Bank of Canada increased its position in VNET Group by 2,304,491.9% during 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 acquiring an additional 1,705,324 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in VNET Group in the fourth quarter valued at about $7,183,000. 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.