VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Given Average Recommendation of “Hold” by Brokerages

Shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) have been given a consensus rating of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $19.03.

VNET has been the subject of several research reports. Jefferies Financial Group reiterated a “buy” rating and set a $24.79 price target on shares of VNET Group in a research report on Tuesday, May 26th. Morgan Stanley restated an “overweight” rating and issued a $16.00 target price on shares of VNET Group in a report on Wednesday, May 27th. Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th. Finally, Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a report on Saturday.

VNET Group Stock Down 0.6%

Shares of VNET opened at $7.65 on Friday. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99. VNET Group has a one year low of $6.07 and a one year high of $14.48. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -5.58 and a beta of 0.25. The stock has a 50 day moving average price of $9.29 and a 200 day moving average price of $9.75.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.03) by ($1.17). VNET Group had a negative return on equity of 31.59% and a negative net margin of 22.01%.The firm had revenue of $390.32 million for the quarter, compared to analysts’ expectations of $388.47 million. Equities research analysts forecast that VNET Group will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at VNET Group

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

Institutional Trading of VNET Group

Several large investors have recently added to or reduced their stakes in the stock. Temasek Holdings Private Ltd purchased a new position in shares of VNET Group during the 3rd quarter worth $3,087,000. William Blair Investment Management LLC purchased a new position in shares of VNET Group during the 3rd quarter worth $15,951,000. Pinpoint Asset Management Singapore Pte. Ltd. grew its holdings 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 worth $6,464,000 after purchasing an additional 724,865 shares during the period. DNB Asset Management AS purchased a new position in shares of VNET Group during the 3rd quarter worth $1,744,000. Finally, AI Squared Management Ltd purchased a new position in shares of VNET Group during the 3rd quarter worth $3,897,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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.