21Vianet Group Inc. (VNET) Sees Large Volume Increase
21Vianet Group Inc. (NASDAQ:VNET) saw an uptick in trading volume on Monday . 1,545,881 shares traded hands during mid-day trading, an increase of 109% from the previous session’s volume of 739,443 shares.The stock last traded at $10.65 and had previously closed at $10.27.
A number of brokerages have recently commented on VNET. Zacks Investment Research upgraded 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 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. 21Vianet Group currently has an average rating of “Hold” and an average price target of $17.00.
The stock’s 50-day moving average price is $9.81 and its 200-day moving average price is $15.51. The firm’s market capitalization is $953.16 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 Zacks’ consensus estimate of ($0.32) by $0.06. During the same quarter in the prior year, the business earned $0.02 EPS. The firm had revenue of $133.70 million for the quarter. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts expect that 21Vianet Group Inc. will post ($0.35) earnings per share for the current year.
An institutional investor recently raised its position in 21Vianet Group stock. Pacific Alternative Asset Management Company LLC boosted its position in 21Vianet Group Inc. (NASDAQ:VNET) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 551,648 shares of the company’s stock after buying an additional 42,400 shares during the period. 21Vianet Group comprises 4.4% of Pacific Alternative Asset Management Company LLC’s portfolio, making the stock its 6th largest position. Pacific Alternative Asset Management Company LLC owned 0.63% of 21Vianet Group worth $11,662,000 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.