VNET Group (NASDAQ:VNET) Stock Rating Lowered by StockNews.com

VNET Group (NASDAQ:VNET) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

VNET has been the topic of a number of other research reports. Nomura Securities raised VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. UBS Group increased their target price on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Finally, Citigroup increased their target price on VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, VNET Group currently has an average rating of “Buy” and an average price target of $7.98.

VNET Group Stock Up 12.0 %

VNET Group stock opened at $11.65 on Friday. 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 $3.00 billion, a price-to-earnings ratio of -5.25, a price-to-earnings-growth ratio of 1.01 and a beta of 0.06. VNET Group has a fifty-two week low of $1.42 and a fifty-two week high of $16.13. The stock’s fifty day moving average is $9.23 and its two-hundred day moving average is $5.60.

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

Hedge Funds Weigh In On VNET Group

Large investors have recently modified their holdings of the company. Barclays PLC raised its holdings in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 4,939 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of VNET Group in the 4th quarter worth about $41,000. Wolverine Trading LLC purchased a new stake in shares of VNET Group during the 3rd quarter valued at about $46,000. Catalina Capital Group LLC purchased a new stake in shares of VNET Group during the 4th quarter valued at about $54,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of VNET Group during the 4th quarter valued at about $66,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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.