VNET Group (NASDAQ:VNET) Reaches New 1-Year Low – What’s Next?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.07 and last traded at $7.1650, with a volume of 1870388 shares traded. The stock had previously closed at $7.21.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of VNET Group in a report on Tuesday, July 7th. They issued a “buy” rating and a $12.50 target price for the company. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Jefferies Financial Group restated a “buy” rating and issued a $24.79 price target on shares of VNET Group in a research note on Tuesday, May 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $16.00 price target on shares of VNET Group in a report on Wednesday, May 27th. Finally, Zacks Research raised VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.40.

VNET Group Trading Down 1.7%

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. The firm has a market capitalization of $1.92 billion, a PE ratio of -5.19 and a beta of 0.28. The stock’s fifty day simple moving average is $8.77 and its 200 day simple moving average is $9.62.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. The business had revenue of $390.32 million for the quarter, compared to the consensus estimate of $388.47 million. On average, sell-side analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.24 earnings per share for the current year.

Insider Activity at VNET Group

In other news, Director Sean Shao sold 60,000 shares of VNET Group stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1.71, for a total transaction of $102,600.00. Following the transaction, the director directly owned 983,820 shares of the company’s stock, valued at $1,682,332.20. The trade was a 5.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.10% of the stock is owned by company insiders.

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 company. Pinpoint Asset Management Singapore Pte. Ltd. raised its position in shares of VNET Group by 1,849.6% during the 4th quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 764,056 shares of the information technology services provider’s stock valued at $6,464,000 after purchasing an additional 724,865 shares during the period. Temasek Holdings Private Ltd boosted its holdings in VNET Group by 988.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 3,253,150 shares of the information technology services provider’s stock worth $27,522,000 after buying an additional 2,954,350 shares during the period. Senvest Management LLC increased its stake in VNET Group by 211.7% in the 1st quarter. Senvest Management LLC now owns 2,779,637 shares of the information technology services provider’s stock worth $23,321,000 after buying an additional 1,887,883 shares in the last quarter. Norges Bank purchased a new stake in VNET Group in the 4th quarter worth $65,650,000. Finally, Triata Capital Ltd raised its holdings in VNET Group by 4.6% during the fourth quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider’s stock valued at $105,740,000 after acquiring an additional 550,841 shares during the period. 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.