Brokerages Set VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Target Price at $17.40

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) has been given an average rating of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $17.3975.

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on VNET Group in a research note on Tuesday, July 7th. They issued a “buy” rating and a $12.50 target price for the company. Zacks Research upgraded shares of VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Bank of America set a $16.30 price objective on shares of VNET Group and gave the stock a “buy” rating in a report on Tuesday, May 26th. Wall Street Zen cut shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of VNET Group in a research note on Wednesday.

Insider Buying and Selling at VNET Group

In related news, Director Sean Shao sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the transaction, the director owned 983,820 shares in the company, valued at $1,682,332.20. The trade was a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On VNET Group

Several hedge funds have recently modified their holdings of VNET. Parallel Advisors LLC boosted its holdings in shares of VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after buying an additional 1,160 shares during the period. Liontrust Investment Partners LLP grew its stake in VNET Group by 40.1% in the 1st quarter. Liontrust Investment Partners LLP now owns 56,929 shares of the information technology services provider’s stock valued at $478,000 after buying an additional 16,286 shares during the last quarter. Bank of America Corp DE raised its holdings in VNET Group by 15.4% in the 1st quarter. Bank of America Corp DE now owns 642,612 shares of the information technology services provider’s stock valued at $5,392,000 after acquiring an additional 85,780 shares during the period. Janus Henderson Group PLC bought a new position in VNET Group in the 1st quarter valued at about $1,809,000. Finally, Amundi lifted its position in VNET Group by 30.1% during the first quarter. Amundi now owns 248,802 shares of the information technology services provider’s stock worth $2,087,000 after acquiring an additional 57,616 shares during the last quarter. Institutional investors own 72.83% of the company’s stock.

VNET Group Price Performance

VNET stock opened at $7.39 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. VNET Group has a 52-week low of $7.10 and a 52-week high of $14.48. The stock’s 50 day moving average is $9.00 and its two-hundred day moving average is $9.65. The company has a market capitalization of $2.00 billion, a PE ratio of -5.39 and a beta of 0.28.

VNET Group (NASDAQ:VNET) last announced its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). The business had revenue of $390.32 million during the quarter, compared to analyst estimates of $388.47 million. VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. Analysts predict that VNET Group will post -0.24 earnings per share for the current fiscal year.

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.