VNET Group (NASDAQ:VNET) Share Price Crosses Above Two Hundred Day Moving Average of $2.06

VNET Group, Inc. (NASDAQ:VNETGet Free Report)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.06 and traded as high as $2.29. VNET Group shares last traded at $2.24, with a volume of 666,090 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Bank of America raised shares of VNET Group from a “neutral” rating to a “buy” rating and decreased their price target for the company from $3.90 to $2.70 in a research note on Tuesday, March 19th. StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a report on Thursday, May 30th.

Check Out Our Latest Report on VNET Group

VNET Group Price Performance

The stock has a fifty day moving average of $1.82 and a 200-day moving average of $2.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $576.58 million, a price-to-earnings ratio of -0.85 and a beta of -0.33.

VNET Group (NASDAQ:VNETGet Free Report) last posted its quarterly earnings data on Wednesday, March 27th. The information technology services provider reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.50). VNET Group had a negative net margin of 39.32% and a negative return on equity of 15.69%. The firm had revenue of $267.40 million during the quarter, compared to analyst estimates of $289.41 million.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Catalina Capital Group LLC acquired a new stake in shares of VNET Group during the first quarter valued at $26,000. Quantbot Technologies LP acquired a new stake in shares of VNET Group during the third quarter valued at $63,000. Jump Financial LLC boosted its stake in shares of VNET Group by 89.2% during the third quarter. Jump Financial LLC now owns 41,869 shares of the information technology services provider’s stock valued at $131,000 after acquiring an additional 19,734 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of VNET Group by 1,199.7% during the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 39,050 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of VNET Group by 135.9% during the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock valued at $293,000 after acquiring an additional 58,817 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Company Profile

(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.

Further Reading

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