VNET Group (NASDAQ:VNET) Shares Down 5.5%

VNET Group, Inc. (NASDAQ:VNET)’s share price was down 5.5% on Friday . The company traded as low as $2.24 and last traded at $2.24. Approximately 143,629 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,667,444 shares. The stock had previously closed at $2.37.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VNET shares. StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America raised shares of VNET Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $3.90 to $2.70 in a research report on Tuesday, March 19th.

VNET Group Trading Down 5.1 %

The firm has a market capitalization of $579.15 million, a PE ratio of -0.85 and a beta of -0.33. The stock’s 50-day moving average price is $1.89 and its 200 day moving average price is $2.03. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Wednesday, March 27th. The information technology services provider reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.50). VNET Group had a negative net margin of 39.32% and a negative return on equity of 15.69%. The business had revenue of $267.40 million for the quarter, compared to the consensus estimate of $289.41 million.

Institutional Investors Weigh In On VNET Group

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new stake in shares of VNET Group during the fourth quarter valued at $2,021,000. AI Squared Management Ltd acquired a new position in VNET Group during the fourth quarter valued at $893,000. Mirae Asset Global Investments Co. Ltd. lifted its position in VNET Group by 14.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,525,707 shares of the information technology services provider’s stock valued at $4,379,000 after purchasing an additional 188,593 shares during the period. Jump Financial LLC lifted its position in VNET Group by 89.2% during the third quarter. Jump Financial LLC now owns 41,869 shares of the information technology services provider’s stock valued at $131,000 after purchasing an additional 19,734 shares during the period. Finally, Headlands Technologies LLC lifted its position in VNET Group by 1,199.7% during the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 39,050 shares during the period. 72.83% of the stock is owned by hedge funds and other 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.