VNET Group, Inc. (NASDAQ:VNET) Given Average Recommendation of “Buy” by Brokerages

VNET Group, Inc. (NASDAQ:VNET) has been given a consensus rating of “Buy” by the seven research firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.78.

A number of brokerages have issued reports on VNET. Nomura Securities raised VNET Group to a “strong-buy” rating in a report on Friday, February 21st. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.10 to $5.00 in a research note on Friday, November 29th. Finally, UBS Group lifted their target price 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.

Institutional Trading of VNET Group

Institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its position in shares of VNET Group by 24.8% in the 3rd quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider’s stock worth $1,506,000 after purchasing an additional 73,311 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in VNET Group in the third quarter valued at $199,000. Walleye Capital LLC acquired a new position in VNET Group in the third quarter valued at $115,000. Wolverine Trading LLC bought a new stake in VNET Group during the third quarter valued at $46,000. Finally, XTX Topco Ltd acquired a new stake in VNET Group during the 3rd quarter worth about $343,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Down 5.0 %

Shares of NASDAQ:VNET opened at $11.47 on Friday. VNET Group has a 52-week low of $1.42 and a 52-week high of $16.13. The company has a market capitalization of $2.95 billion, a PE ratio of -5.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.07. 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 company has a fifty day moving average of $8.59 and a 200-day moving average of $5.28.

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.