VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) was up 5.4% during trading on Tuesday . The company traded as high as $8.30 and last traded at $8.17. Approximately 1,517,971 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 7,835,704 shares. The stock had previously closed at $7.75.
Analysts Set New Price Targets
A number of research analysts have commented on VNET shares. Bank of America lifted their price objective on shares of VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen upgraded shares of VNET Group from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $9.96.
Get Our Latest Report on VNET
VNET Group Trading Up 12.9%
The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10. The business's 50 day moving average price is $7.51 and its 200-day moving average price is $7.83. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -103.63, a price-to-earnings-growth ratio of 4.00 and a beta of 0.18.
VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). VNET Group had a return on equity of 0.98% and a net margin of 0.74%.The firm had revenue of $339.65 million for the quarter, compared to analyst estimates of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. Equities analysts forecast that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current fiscal year.
VNET Group declared that its Board of Directors has authorized a stock repurchase program on Friday, June 27th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Triata Capital Ltd acquired a new position in VNET Group during the fourth quarter worth about $47,377,000. Norges Bank acquired a new position in VNET Group during the second quarter worth about $54,199,000. Oxbow Capital Management HK Ltd grew its position in VNET Group by 64.3% during the second quarter. Oxbow Capital Management HK Ltd now owns 5,750,000 shares of the information technology services provider's stock worth $39,675,000 after buying an additional 2,250,000 shares during the period. Millennium Management LLC grew its position in VNET Group by 3.4% during the fourth quarter. Millennium Management LLC now owns 5,578,371 shares of the information technology services provider's stock worth $26,441,000 after buying an additional 181,749 shares during the period. Finally, Vanguard Group Inc. grew its position in VNET Group by 5.3% during the first quarter. Vanguard Group Inc. now owns 5,495,446 shares of the information technology services provider's stock worth $45,063,000 after buying an additional 278,496 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.
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
Before you consider VNET Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and VNET Group wasn't on the list.
While VNET Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access