VNET Group (NASDAQ:VNET) Price Target Cut to $8.20 by Analysts at Credit Suisse Group

VNET Group (NASDAQ:VNETGet Rating) had its price objective cut by Credit Suisse Group from $10.80 to $8.20 in a report released on Monday morning, The Fly reports.

A number of other research firms also recently weighed in on VNET. Zacks Investment Research raised shares of VNET Group from a sell rating to a hold rating in a research report on Tuesday, March 29th. StockNews.com started coverage on shares of VNET Group in a research report on Thursday, March 31st. They set a sell rating on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $17.85.

Shares of VNET Group stock opened at $6.04 on Monday. The company’s fifty day simple moving average is $6.18 and its two-hundred day simple moving average is $8.69. The company has a market cap of $879.86 million, a P/E ratio of -18.30 and a beta of 0.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.00. VNET Group has a 12-month low of $3.51 and a 12-month high of $26.20.

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in VNET Group by 111.9% during the 4th quarter. Parallel Advisors LLC now owns 3,064 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 1,618 shares during the period. Exchange Traded Concepts LLC grew its holdings in VNET Group by 440.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,282 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 3,490 shares in the last quarter. Signaturefd LLC grew its holdings in VNET Group by 447.3% during the 4th quarter. Signaturefd LLC now owns 4,625 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 3,780 shares in the last quarter. US Bancorp DE grew its holdings in VNET Group by 94.7% during the 3rd quarter. US Bancorp DE now owns 6,417 shares of the information technology services provider’s stock valued at $112,000 after buying an additional 3,121 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in VNET Group during the 4th quarter valued at approximately $64,000.

VNET Group Company Profile (Get Rating)

VNET Group, Inc, an investment holding company, provides hosting and related services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network.

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