VNET Group, Inc. (NASDAQ:VNET) Given Consensus Rating of “Buy” by Brokerages

Shares of VNET Group, Inc. (NASDAQ:VNET) have been assigned an average recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $4.78.

Several research analysts have weighed in on the stock. Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a research note on Wednesday, October 9th. HSBC upgraded shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price target on the stock in a research note on Wednesday, October 9th. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $3.10 to $5.00 in a report on Friday, November 29th. Citigroup started coverage on shares of VNET Group in a research report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, UBS Group raised their target price on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday, November 29th.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $3.62 on Tuesday. VNET Group has a 12-month low of $1.39 and a 12-month high of $4.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The company has a market cap of $931.78 million, a P/E ratio of -1.63 and a beta of -0.19. The company’s fifty day moving average is $3.70 and its two-hundred day moving average is $2.95.

Institutional Trading of VNET Group

Several institutional investors have recently modified their holdings of the company. Wolverine Trading LLC acquired a new stake in shares of VNET Group during the 3rd quarter valued at about $46,000. Ballentine Partners LLC bought a new stake in shares of VNET Group in the 2nd quarter worth about $36,000. Walleye Capital LLC acquired a new position in VNET Group in the third quarter valued at about $115,000. AXA S.A. bought a new stake in VNET Group during the second quarter worth about $65,000. Finally, Blue Trust Inc. increased its holdings in VNET Group by 785.4% during the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after purchasing an additional 37,322 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

About VNET Group

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.