21Vianet Group Inc. (NASDAQ:VNET) shares rose 3.5% during mid-day trading on Tuesday . The stock traded as high as $8.93 and last traded at $8.89, with a volume of 879,094 shares changing hands. The stock had previously closed at $8.59.

VNET has been the topic of several analyst reports. Zacks Investment Research raised 21Vianet Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. JPMorgan Chase & Co. cut 21Vianet Group from a “neutral” rating to an “underweight” rating and cut their target price for the company from $21.00 to $5.60 in a research report on Wednesday, August 17th. Finally, Morgan Stanley initiated coverage on 21Vianet Group in a research report on Friday, July 8th. They set an “underweight” rating and a $8.00 target price on the stock. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.87.

The firm’s market cap is $1.00 billion. The firm has a 50-day moving average of $9.71 and a 200-day moving average of $15.16.

21Vianet Group (NASDAQ:VNET) last released its quarterly earnings results on Tuesday, August 16th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.08. The business earned $137.10 million during the quarter, compared to analyst estimates of $127.83 million. 21Vianet Group’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) earnings per share. Equities analysts expect that 21Vianet Group Inc. will post ($0.59) EPS for the current year.

An institutional investor recently raised its position in 21Vianet Group stock. Morgan Stanley raised its position in shares of 21Vianet Group Inc. (NASDAQ:VNET) by 180.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 approximately 1.26% of 21Vianet Group worth $23,265,000 as of its most recent filing with the SEC.

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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