VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) shares traded up 8% on Tuesday . The company traded as high as $8.33 and last traded at $8.29. 5,095,682 shares were traded during mid-day trading, a decline of 34% from the average session volume of 7,749,499 shares. The stock had previously closed at $7.68.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Bank of America increased their price target on VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a research note on Friday, August 22nd. Wall Street Zen lowered VNET Group from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $9.96.
Read Our Latest Analysis on VNET
VNET Group Trading Up 8.5%
The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -104.13, a price-to-earnings-growth ratio of 5.49 and a beta of 0.16. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a fifty day moving average price of $7.99 and a 200-day moving average price of $7.53.
VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $339.65 million for the quarter, compared to analyst estimates of $2.27 billion. VNET Group had a return on equity of 0.98% and a net margin of 0.74%. VNET Group has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current year.
VNET Group announced that its board has authorized a stock repurchase plan on Friday, June 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.
Institutional Trading of VNET Group
Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in VNET Group by 111.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,197 shares of the information technology services provider's stock valued at $670,000 after buying an additional 42,710 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in VNET Group in the fourth quarter valued at about $66,000. Cetera Investment Advisers bought a new position in VNET Group in the fourth quarter valued at about $102,000. Oppenheimer & Co. Inc. bought a new position in VNET Group in the first quarter valued at about $207,000. Finally, Barclays PLC raised its position in VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 4,939 shares during the last quarter. 72.83% of the stock is 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.
See Also
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