VNET Group (NASDAQ:VNET) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.03 and traded as high as $10.86. VNET Group shares last traded at $10.41, with a volume of 4,688,071 shares traded.

Analyst Ratings Changes

Several research analysts have recently issued reports on VNET shares. Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.30.

VNET Group Trading Up 2.9%

The company has a market capitalization of $2.80 billion, a P/E ratio of -34.70, a PEG ratio of 1.03 and a beta of -0.02. The business has a 50 day moving average price of $9.23 and a 200 day moving average price of $9.03. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $362.63 million during the quarter, compared to analysts’ expectations of $335.87 million. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. Analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new position in shares of VNET Group during the second quarter worth about $34,000. Public Employees Retirement System of Ohio grew its stake in shares of VNET Group by 16.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock worth $101,000 after acquiring an additional 2,100 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of VNET Group in the second quarter valued at approximately $194,000. Envestnet Asset Management Inc. lifted its position in shares of VNET Group by 21.5% in the second quarter. Envestnet Asset Management Inc. now owns 244,888 shares of the information technology services provider’s stock worth $1,690,000 after purchasing an additional 43,392 shares in the last quarter. Finally, Aperture Investors LLC acquired a new position in VNET Group during the second quarter worth $1,259,000. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Company Profile

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.