VNET Group (NASDAQ:VNET) Shares Gap Down – What’s Next?

VNET Group, Inc. (NASDAQ:VNET)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $14.59, but opened at $13.66. VNET Group shares last traded at $12.75, with a volume of 9,130,256 shares.

Analyst Ratings Changes

A number of equities research analysts have commented on VNET shares. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $3.10 to $5.00 in a research note on Friday, November 29th. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Finally, UBS Group upped their price objective on shares of 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 hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $4.78.

VNET Group Trading Down 2.7 %

The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $3.39 billion, a P/E ratio of -5.91, a PEG ratio of 1.01 and a beta of -0.18. The firm has a 50 day simple moving average of $7.33 and a two-hundred day simple moving average of $4.74.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Barclays PLC lifted its position in shares of VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after buying an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in VNET Group during the 4th quarter valued at about $41,000. Wolverine Trading LLC purchased a new stake in shares of VNET Group in the third quarter worth about $46,000. Catalina Capital Group LLC bought a new position in shares of VNET Group in the fourth quarter valued at approximately $54,000. Finally, Hsbc Holdings PLC purchased a new position in VNET Group during the fourth quarter valued at approximately $66,000. 72.83% of the stock is owned by 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.