VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Receives Average Recommendation of “Moderate Buy” from Brokerages

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $17.3975.

Several equities analysts recently weighed in on VNET shares. Morgan Stanley restated an “overweight” rating and set a $16.00 target price on shares of VNET Group in a report on Wednesday, May 27th. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Zacks Research raised VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft initiated coverage on VNET Group in a research note on Tuesday, July 7th. They set a “buy” rating and a $12.50 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of VNET Group in a research note on Wednesday, July 15th.

VNET Group Trading Up 2.0%

NASDAQ VNET opened at $7.60 on Friday. VNET Group has a one year low of $6.17 and a one year high of $14.48. The company’s 50 day moving average price is $7.90 and its 200 day moving average price is $9.28. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -5.55 and a beta of 0.32.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. The business had revenue of $390.32 million for the quarter, compared to analyst estimates of $388.47 million. On average, sell-side analysts predict that VNET Group will post -0.24 EPS for the current year.

Insider Buying and Selling

In other VNET Group news, Director Sean Shao sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the transaction, the director owned 983,820 shares in the company, valued at $1,682,332.20. This represents a 5.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.10% of the company’s stock.

Institutional Trading of VNET Group

A number of hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of VNET Group in the fourth quarter valued at $65,650,000. Temasek Holdings Private Ltd increased its stake in VNET Group by 988.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 3,253,150 shares of the information technology services provider’s stock worth $27,522,000 after buying an additional 2,954,350 shares during the period. BNP Paribas Financial Markets increased its stake in VNET Group by 674.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock worth $23,067,000 after buying an additional 2,911,604 shares during the period. JPMorgan Chase & Co. lifted its holdings in VNET Group by 1,750.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,502,622 shares of the information technology services provider’s stock worth $21,172,000 after buying an additional 2,367,410 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its holdings in VNET Group by 1,419.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,979,000 shares of the information technology services provider’s stock worth $16,742,000 after buying an additional 2,129,000 shares in the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

About VNET Group

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.