VNET Group (NASDAQ:VNET) Trading Up 3.3% – Time to Buy?

VNET Group, Inc. (NASDAQ:VNET) shares were up 3.3% on Wednesday . The company traded as high as $8.80 and last traded at $8.76. Approximately 2,121,392 shares changed hands during trading, a decline of 36% from the average daily volume of 3,293,018 shares. The stock had previously closed at $8.48.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VNET. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. StockNews.com cut VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Citigroup boosted their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Finally, UBS Group lifted their price target on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $9.30.

VNET Group Trading Up 4.0 %

The stock has a market capitalization of $2.27 billion, a PE ratio of -3.97, a price-to-earnings-growth ratio of 1.01 and a beta of 0.07. The business’s 50-day moving average is $9.81 and its two-hundred day moving average is $5.96. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

VNET Group (NASDAQ:VNET) last released its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The business had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. As a group, equities research analysts anticipate that VNET Group, Inc. will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On VNET Group

A number of institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its holdings 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 buying an additional 4,939 shares during the period. Headlands Technologies LLC grew its position in VNET Group by 5.7% in the fourth quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock valued at $685,000 after acquiring an additional 7,737 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of VNET Group during the fourth quarter worth $41,000. Catalina Capital Group LLC purchased a new position in shares of VNET Group in the fourth quarter valued at $54,000. Finally, Wolverine Trading LLC acquired a new stake in VNET Group during the 3rd quarter valued at $46,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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.