VNET Group (NASDAQ:VNET) Shares Gap Down – Should You Sell?

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) shares gapped down before the market opened on Friday . The stock had previously closed at $12.44, but opened at $12.00. VNET Group shares last traded at $12.13, with a volume of 651,881 shares.

Wall Street Analysts Forecast Growth

VNET has been the topic of several analyst reports. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, VNET Group has an average rating of “Hold” and an average target price of $16.30.

VNET Group Stock Down 4.7%

The firm has a market capitalization of $3.19 billion, a P/E ratio of -39.50, a price-to-earnings-growth ratio of 0.93 and a beta of 0.01. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a fifty day moving average of $10.48 and a 200 day moving average of $9.58.

VNET Group (NASDAQ:VNET) last released its earnings results on Thursday, November 20th. The information technology services provider reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $362.63 million for the quarter, compared to analysts’ expectations of $335.87 million. VNET Group had a negative return on equity of 3.42% and a negative net margin of 5.99%. On average, research analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On VNET Group

Several large investors have recently modified their holdings of VNET. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of VNET Group in the second quarter valued at $194,000. Envestnet Asset Management Inc. raised its stake in VNET Group by 21.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 244,888 shares of the information technology services provider’s stock valued at $1,690,000 after acquiring an additional 43,392 shares during the period. Aperture Investors LLC purchased a new stake in VNET Group during the second quarter valued at about $1,259,000. Infini Capital Management Ltd boosted its position in VNET Group by 39.2% during the second quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock worth $67,331,000 after purchasing an additional 2,747,661 shares during the period. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of VNET Group in the second quarter worth about $558,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

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.