VNET Group (NASDAQ:VNET) Shares Down 7% - What's Next?

VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report)'s share price dropped 7% during mid-day trading on Monday . The company traded as low as $8.35 and last traded at $8.38. Approximately 1,559,356 shares were traded during trading, a decline of 71% from the average daily volume of 5,384,235 shares. The stock had previously closed at $9.01.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of VNET Group from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $9.30.

VNET Group Trading Down 4.7%

The firm has a market cap of $2.24 billion, a P/E ratio of -833.00, a price-to-earnings-growth ratio of 1.64 and a beta of 0.14. The firm has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $7.57. 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 (NASDAQ:VNET - Get Free Report) last announced 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 net margin of 1.66% and a return on equity of 2.11%. During the same quarter last year, the firm posted ($0.28) EPS. On average, equities research analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current year.

VNET Group declared that its board has authorized a share buyback plan on Friday, June 27th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On VNET Group

Several institutional investors have recently bought and sold shares of VNET. Quantbot Technologies LP purchased a new position in VNET Group during the 1st quarter worth $36,000. Summit Securities Group LLC purchased a new position in VNET Group during the first quarter worth about $40,000. Farther Finance Advisors LLC bought a new stake in VNET Group in the 2nd quarter worth about $34,000. Barclays PLC increased its stake in VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after buying an additional 4,939 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of VNET Group during the 4th quarter worth approximately $41,000. 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.