VNET Group (NASDAQ:VNET) Trading 12.4% Higher - Should You Buy?

Key Points

• Shares jumped 12.4% intraday to about $11.01 (high $11.07) on Tuesday, with 3.76M shares traded—roughly 45% below the average session volume.
• Wall Street sentiment is mixed with a consensus Hold rating and an average price target of $16.30 (two Buys, one Sell), while Weiss Ratings reiterated a sell (D-).
• Fundamentals show negative earnings (P/E -37.46), tight liquidity (current and quick ratios 0.90) and elevated leverage (debt-to-equity 2.88), though the company has a $3.02B market cap and institutional ownership of 72.83%.

VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report)'s share price traded up 12.4% during mid-day trading on Tuesday . The stock traded as high as $11.07 and last traded at $11.0070. 3,756,560 shares were traded during mid-day trading, a decline of 45% from the average session volume of 6,820,684 shares. The stock had previously closed at $9.79.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of VNET Group in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, VNET Group currently has a consensus rating of "Hold" and an average price target of $16.30.

VNET Group Trading Up 14.9%

The stock's 50 day moving average is $10.92 and its 200-day moving average is $9.80. The company has a market cap of $3.02 billion, a P/E ratio of -37.46, a PEG ratio of 0.75 and a beta of 0.01. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88.

Institutional Investors Weigh In On VNET Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Orion Porfolio Solutions LLC increased its position in VNET Group by 6.1% during the third quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider's stock valued at $222,000 after acquiring an additional 1,237 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in VNET Group by 52.2% in 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. Raymond James Financial Inc. grew its stake in shares of VNET Group by 14.5% during the 3rd quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider's stock valued at $118,000 after purchasing an additional 1,446 shares during the period. Farther Finance Advisors LLC increased its position in shares of VNET Group by 13.3% during the 4th quarter. Farther Finance Advisors LLC now owns 13,689 shares of the information technology services provider's stock valued at $116,000 after purchasing an additional 1,611 shares during the last quarter. Finally, Main Management ETF Advisors LLC increased its position in shares of VNET Group by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 183,222 shares of the information technology services provider's stock valued at $1,550,000 after purchasing an additional 1,872 shares during the last quarter. Institutional investors own 72.83% of the company's stock.

VNET Group Company Profile

VNET Group, Inc NASDAQ: VNET is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company's product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.