21Vianet Group Inc. (VNET) Sees Unusually-High Trading Volume
21Vianet Group Inc. (NASDAQ:VNET) shares saw an uptick in trading volume on Tuesday . 1,198,676 shares changed hands during mid-day trading, an increase of 62% from the previous session’s volume of 739,740 shares.The stock last traded at $10.40 and had previously closed at $10.05.
A number of brokerages have commented on VNET. Zacks Investment Research raised 21Vianet Group from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Morgan Stanley began coverage on 21Vianet Group in a report on Friday, July 8th. They issued an “underweight” rating and a $8.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $17.00.
The stock has a 50 day moving average of $9.89 and a 200-day moving average of $15.72. The company’s market cap is $898.12 million.
21Vianet Group (NASDAQ:VNET) last announced its earnings results on Thursday, May 26th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.06. The company had revenue of $133.70 million for the quarter. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 earnings per share. On average, equities research analysts anticipate that 21Vianet Group Inc. will post ($0.35) earnings per share for the current year.
A hedge fund recently raised its stake in 21Vianet Group stock. Morgan Stanley increased its stake in shares of 21Vianet Group Inc. (NASDAQ:VNET) by 180.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,100,561 shares of the company’s stock after buying an additional 708,308 shares during the period. Morgan Stanley owned about 1.26% of 21Vianet Group worth $23,265,000 as of its most recent SEC filing.
21Vianet Group, Inc is a carrier-neutral Internet data center services provider. The Company hosts its customers’ servers and networking equipment and provides interconnectivity. The Company also provides managed network services to enable customers to deliver data across the Internet through its data transmission network and smart routing technology.
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