21Vianet Group Inc. (VNET) Shares Up 4%
21Vianet Group Inc. (NASDAQ:VNET)’s share price shot up 4% during mid-day trading on Monday . The company traded as high as $10.32 and last traded at $9.92, with a volume of 994,334 shares. The stock had previously closed at $9.54.
A number of research firms recently issued reports on VNET. Zacks Investment Research downgraded shares of 21Vianet Group from a “hold” rating to a “sell” rating in a research report on Friday, June 3rd. Morgan Stanley started coverage on shares of 21Vianet Group in a research report on Friday. They set an “underweight” rating and a $8.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. 21Vianet Group currently has a consensus rating of “Hold” and an average target price of $17.00.
The firm’s 50-day moving average is $11.97 and its 200 day moving average is $17.38. The firm’s market capitalization is $869.29 million.
21Vianet Group (NASDAQ:VNET) last posted its earnings results on Thursday, May 26th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.06. The firm earned $133.70 million during the quarter. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.02 EPS. Analysts anticipate that 21Vianet Group Inc. will post ($2.33) earnings per share for the current fiscal year.
An institutional investor recently bought a new position in 21Vianet Group stock. Quantitative Investment Management LLC acquired a new stake in shares of 21Vianet Group Inc. (NASDAQ:VNET) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,400 shares of the company’s stock, valued at approximately $1,340,000. Quantitative Investment Management LLC owned about 0.07% of 21Vianet Group at the end of the most recent quarter.
21Vianet Group, Inc is a carrier-neutral Internet data center services provider in China. The Company hosts its customers’ servers and networking equipment and provides interconnectivity to improve the performance, availability and security of their Internet infrastructure. The Company also provides managed network services to enable customers to deliver data across the Internet in a faster and reliable manner through its data transmission network and smart routing technology.
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