VNET Group (NASDAQ:VNET) Trading Down 6.3% - Should You Sell?

VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report)'s share price traded down 6.3% during trading on Wednesday . The company traded as low as $7.05 and last traded at $7.09. 1,457,086 shares were traded during trading, a decline of 71% from the average session volume of 5,070,150 shares. The stock had previously closed at $7.56.

Analyst Ratings Changes

A number of analysts recently commented on the company. Citigroup upped their price objective on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Wall Street Zen cut VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, VNET Group currently has an average rating of "Buy" and a consensus target price of $9.30.

VNET Group Stock Performance

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 has a 50-day simple moving average of $6.24 and a 200 day simple moving average of $7.32. The firm has a market cap of $2.12 billion, a PE ratio of -789.50, a PEG ratio of 1.35 and a beta of 0.14.

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 company had revenue of $309.52 million during the quarter, compared to analysts' expectations 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 in the previous year, the company earned ($0.28) EPS. Equities research analysts forecast that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current year.

VNET Group announced that its Board of Directors has approved a share repurchase program on Friday, June 27th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the information technology services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of VNET Group

A number of hedge funds and other institutional investors have recently bought and sold shares of VNET. Barclays PLC boosted its stake in shares of VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 4,939 shares during the period. Farther Finance Advisors LLC bought a new position in shares of VNET Group in the second quarter worth about $34,000. Quantbot Technologies LP bought a new position in shares of VNET Group in the first quarter worth about $36,000. Summit Securities Group LLC bought a new position in shares of VNET Group in the first quarter worth about $40,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of VNET Group in the fourth quarter worth about $41,000. Hedge funds and other 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.