Shares of 21Vianet Group Inc. (NASDAQ:VNET) traded down 5% during mid-day trading on Wednesday . The stock traded as low as $9.02 and last traded at $9.16, with a volume of 1,469,133 shares. The stock had previously closed at $9.64.

Separately, Zacks Investment Research cut shares of 21Vianet Group from a “hold” rating to a “sell” rating in a research note on Friday, June 3rd.

The company has a 50-day moving average price of $12.45 and a 200 day moving average price of $17.58. The company’s market cap is $800.27 million.

21Vianet Group (NASDAQ:VNET) last issued its earnings results on Thursday, May 26th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.06. The business had revenue of $133.70 million for the quarter. 21Vianet Group’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. On average, equities research analysts expect that 21Vianet Group Inc. will post ($2.49) earnings per share for the current fiscal year.

Other hedge funds and institutional investors have modified their holdings of the company. Quantitative Investment Management LLC acquired a new position in shares of 21Vianet Group during the fourth quarter valued at about $1,340,000. Myriad Asset Management Ltd. acquired a new position in shares of 21Vianet Group during the fourth quarter valued at about $3,114,000. Finally, Morgan Stanley boosted its position in shares of 21Vianet Group by 180.6% in the fourth quarter. Morgan Stanley now owns 1,100,561 shares of the company’s stock valued at $23,265,000 after buying an additional 708,308 shares during the last 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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