VNET Group (NASDAQ:VNET) Sets New 52-Week Low – Time to Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s share price reached a new 52-week low during trading on Tuesday. The company traded as low as $3.86 and last traded at $3.88, with a volume of 5,213,798 shares traded. The stock had previously closed at $3.92.

Analyst Ratings Changes

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

VNET Group Stock Down 1.0%

The stock’s fifty day moving average is $6.18 and its two-hundred day moving average is $7.75. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 4.35. The firm has a market cap of $1.05 billion, a P/E ratio of -2.73 and a beta of 0.23.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $409.00 million during the quarter, compared to the consensus estimate of $401.77 million. As a group, research analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On VNET Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Infini Capital Management Ltd bought a new stake in VNET Group during the second quarter valued at $38,883,000. Carmignac Gestion grew its position in VNET Group by 1,375.1% during the second quarter. Carmignac Gestion now owns 4,760,599 shares of the information technology services provider’s stock worth $38,123,000 after buying an additional 4,437,879 shares in the last quarter. 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 acquiring an additional 1,887,883 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in VNET Group by 20.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,623,594 shares of the information technology services provider’s stock worth $22,012,000 after acquiring an additional 443,656 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in VNET Group by 16.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,470,654 shares of the information technology services provider’s stock worth $12,330,000 after acquiring an additional 209,694 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

About VNET Group

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.