VNET Group (NASDAQ:VNET) Stock Price Up 4.1% - Should You Buy?

VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) shares traded up 4.1% on Friday . The company traded as high as $7.18 and last traded at $7.26. 452,227 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 5,100,763 shares. The stock had previously closed at $6.97.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of VNET Group from a "sell" rating to a "hold" rating in a research report on Sunday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, VNET Group has a consensus 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 company's fifty day moving average price is $6.26 and its 200 day moving average price is $7.40. The company has a market cap of $2.13 billion, a PE ratio of -792.00, a P/E/G ratio of 1.49 and a beta of 0.14.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The information technology services provider reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). VNET Group had a net margin of 1.66% and a return on equity of 2.11%. The firm had revenue of $309.52 million during the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter last year, the business posted ($0.28) EPS. On average, equities research analysts predict that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current year.

VNET Group declared that its Board of Directors has initiated a share repurchase plan on Friday, June 27th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the information technology services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On VNET Group

A number of hedge funds have recently made changes to their positions in VNET. Quantbot Technologies LP bought a new position in VNET Group during the first quarter valued at about $36,000. Summit Securities Group LLC purchased a new position in VNET Group in the first quarter valued at about $40,000. Barclays PLC grew its position in shares of VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 4,939 shares during the period. Farther Finance Advisors LLC purchased a new stake in shares of VNET Group during the 2nd quarter worth approximately $34,000. Finally, Headlands Technologies LLC raised its holdings in shares of VNET Group by 5.7% in the 4th quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider's stock worth $685,000 after purchasing an additional 7,737 shares during the period. 72.83% of the stock is currently owned by institutional investors.

About VNET Group

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.