VNET Group, Inc. (NASDAQ:VNET) Receives $3.97 Average PT from Analysts

Shares of VNET Group, Inc. (NASDAQ:VNET) have received an average recommendation of “Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.78.

VNET has been the subject of several research reports. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. HSBC upgraded shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group raised shares of VNET Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. Finally, Citigroup started coverage on shares of VNET Group in a research note on Wednesday, September 4th. They set a “buy” rating and a $4.00 price target for the company.

Institutional Investors Weigh In On VNET Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in VNET Group during the 3rd quarter valued at about $519,000. Geode Capital Management LLC lifted its holdings in VNET Group by 237.7% during the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock valued at $1,218,000 after buying an additional 210,124 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in VNET Group during the 3rd quarter valued at about $191,000. Anson Funds Management LP lifted its holdings in VNET Group by 84.9% during the 3rd quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider’s stock valued at $1,836,000 after buying an additional 206,580 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in VNET Group during the 3rd quarter valued at about $343,000. Institutional investors own 72.83% of the company’s stock.

VNET Group Trading Up 1.7 %

Shares of NASDAQ:VNET opened at $4.30 on Friday. VNET Group has a fifty-two week low of $1.39 and a fifty-two week high of $4.50. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a fifty day moving average price of $3.70 and a 200 day moving average price of $2.75.

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.