Shares of 21Vianet Group Inc. (NASDAQ:VNET) reached a new 52-week low during trading on Monday . The stock traded as low as $8.33 and last traded at $8.43, with a volume of 1,982,911 shares trading hands. The stock had previously closed at $9.00.

Several research firms have 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 price target for the company. Finally, JPMorgan Chase & Co. cut 21Vianet Group from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $21.00 to $5.60 in a report on Wednesday, August 17th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $11.87.

The stock’s market cap is $1.00 billion. The firm’s 50-day moving average is $9.68 and its 200-day moving average is $15.09.

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

A hedge fund recently raised its stake 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 disclosure 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 1.26% of 21Vianet Group worth $23,265,000 at the end of the most recent quarter.

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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