VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Receives Average Rating of “Buy” from Analysts

by · The Cerbat Gem

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET – Get Free Report) has received an average rating of “Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $9.30.

Several research firms recently commented on VNET. Citigroup upped their target price on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Wall Street Zen raised shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Sunday, June 15th.

Read Our Latest Report on VNET

VNET Group Price Performance

NASDAQ:VNET opened at $5.48 on Tuesday. The company’s 50-day moving average is $5.83 and its two-hundred day moving average is $7.06. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.34. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -548.00, a price-to-earnings-growth ratio of 1.22 and a beta of 0.09. VNET Group has a 12-month low of $1.71 and a 12-month high of $16.13.

VNET Group (NASDAQ:VNET – Get Free Report) last announced its earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $309.52 million for the quarter, compared to analyst estimates of $2.22 billion. VNET Group had a return on equity of 2.11% and a net margin of 1.66%. During the same quarter last year, the business posted ($0.28) EPS. Research analysts expect that VNET Group will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VNET. Asset Management One Co. Ltd. acquired a new stake in VNET Group during the fourth quarter worth about $152,000. Los Angeles Capital Management LLC acquired a new position in shares of VNET Group in the 4th quarter valued at about $294,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of VNET Group by 472.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 278,801 shares of the information technology services provider’s stock worth $1,322,000 after purchasing an additional 230,068 shares during the period. American Century Companies Inc. increased its position in VNET Group by 20.4% during the 4th quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider’s stock worth $2,251,000 after purchasing an additional 80,516 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in VNET Group by 622.8% in the fourth quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock valued at $4,690,000 after buying an additional 852,519 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

About VNET Group

(Get Free Report

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.

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