VNET Group (NASDAQ:VNET) Trading Down 5.5% – Should You Sell?

VNET Group, Inc. (NASDAQ:VNET) shares fell 5.5% on Tuesday . The stock traded as low as $10.76 and last traded at $10.75. 2,247,799 shares were traded during trading, a decline of 27% from the average session volume of 3,059,325 shares. The stock had previously closed at $11.38.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VNET shares. Citigroup boosted their price target on VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. UBS Group boosted their price objective on shares of VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $3.10 to $5.00 in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, VNET Group has a consensus rating of “Buy” and a consensus target price of $9.30.

VNET Group Trading Down 10.0 %

The business’s fifty day moving average price is $9.54 and its 200 day moving average price is $5.77. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $2.54 billion, a PE ratio of -4.44, a P/E/G ratio of 1.01 and a beta of 0.07.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The company had revenue of $307.75 million for the quarter, compared to analysts’ expectations of $284.88 million. As a group, analysts expect that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On VNET Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC raised its holdings in VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 4,939 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in VNET Group during the 4th quarter worth $41,000. Wolverine Trading LLC purchased a new stake in shares of VNET Group during the third quarter worth about $46,000. Catalina Capital Group LLC acquired a new position in shares of VNET Group in the 4th quarter valued at approximately $54,000. Finally, Hsbc Holdings PLC acquired a new stake in VNET Group in the fourth quarter valued at $66,000. 72.83% of the stock is owned by institutional investors and hedge funds.

About VNET Group

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.