VNET Group (NASDAQ:VNET) Reaches New 1-Year Low – Here’s Why

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $5.08 and last traded at $5.0750, with a volume of 2,762,144 shares traded. The stock had previously closed at $5.39.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VNET. Weiss Ratings downgraded VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft started coverage on VNET Group in a report on Tuesday, July 7th. They issued a “buy” rating and a $12.50 price target on the stock. Wall Street Zen cut shares of VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $14.00 target price on shares of VNET Group in a research report on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.90.

VNET Group Stock Up 7.0%

The firm has a market cap of $1.50 billion, a P/E ratio of -3.89 and a beta of 0.23. The business’s fifty day moving average price is $6.50 and its two-hundred day moving average price is $7.93. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 4.35.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. The company had revenue of $409.00 million during the quarter, compared to the consensus estimate of $401.77 million. As a group, equities research analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new position in shares of VNET Group during the first quarter valued at about $25,000. Parallel Advisors LLC increased its position in shares of VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 1,160 shares in the last quarter. Nykredit A S acquired a new stake in shares of VNET Group during the second quarter worth approximately $89,000. Lido Advisors LLC acquired a new stake in VNET Group during the 1st quarter valued at $126,000. Finally, Blue Trust Inc. raised its holdings in shares of VNET Group by 38.4% in the first quarter. Blue Trust Inc. now owns 17,791 shares of the information technology services provider’s stock valued at $149,000 after buying an additional 4,932 shares during the last quarter. 72.83% of the stock is owned by institutional investors.

VNET Group Company Profile

VNET Group, Inc (NASDAQ:VNET) is a carrier- and cloud-neutral data center services provider in China. The company develops and operates internet data centers that support the hosting, connectivity, and technology infrastructure needs of businesses, government organizations, cloud service providers, and internet companies.

Its services include data center colocation, cloud computing, managed network services, and other information technology infrastructure solutions. VNET’s facilities are designed to provide customers with secure space, power, connectivity, and related operational support for servers and other mission-critical systems.