VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $8.51, but opened at $9.23. VNET Group shares last traded at $9.22, with a volume of 1,382,775 shares trading hands.
Analyst Ratings Changes
A number of brokerages have issued reports on VNET. Bank of America boosted their target price on VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a "sell (d+)" rating on shares of VNET Group in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded VNET Group from a "sell" rating to a "hold" rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.15.
Check Out Our Latest Analysis on VNET Group
VNET Group Stock Up 11.2%
The stock has a market cap of $2.55 billion, a PE ratio of -118.81, a price-to-earnings-growth ratio of 4.91 and a beta of 0.20. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.40. The firm has a fifty day moving average of $8.88 and a 200 day moving average of $7.36.
VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings data on Thursday, August 21st. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The business had revenue of $339.65 million during the quarter, compared to analysts' expectations of $2.27 billion. VNET Group had a net margin of 0.74% and a return on equity of 0.98%. VNET Group has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current fiscal year.
VNET Group declared that its board has approved 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 purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of VNET Group by 52.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 1,426 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in VNET Group during the 2nd quarter worth approximately $32,000. Farther Finance Advisors LLC purchased a new position in VNET Group during the 2nd quarter worth approximately $34,000. Quantbot Technologies LP purchased a new position in shares of VNET Group during the first quarter worth approximately $36,000. Finally, Summit Securities Group LLC purchased a new position in shares of VNET Group during the first quarter worth approximately $40,000. 72.83% of the stock is owned by hedge funds and other institutional investors.
About VNET Group
(
Get Free Report)
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.
Further Reading
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