VNET Group, Inc. (NASDAQ:VNET) Receives Average Rating of “Buy” from Analysts

VNET Group, Inc. (NASDAQ:VNET) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $4.78.

A number of research analysts have issued reports on VNET shares. UBS Group increased their target price on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday, November 29th. 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 report on Wednesday, October 9th. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $3.10 to $5.00 in a research report on Friday, November 29th. Finally, Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th.

VNET Group Trading Up 1.0 %

Shares of VNET Group stock opened at $6.36 on Friday. VNET Group has a 12-month low of $1.39 and a 12-month high of $6.56. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.64 billion, a PE ratio of -2.86, a price-to-earnings-growth ratio of 0.53 and a beta of -0.24. The company has a 50-day moving average of $4.43 and a two-hundred day moving average of $3.40.

Institutional Trading of VNET Group

A number of hedge funds have recently bought and sold shares of VNET. Wolverine Trading LLC acquired a new stake in VNET Group during the third quarter worth approximately $46,000. AXA S.A. acquired a new position in shares of VNET Group in the 2nd quarter valued at $65,000. Walleye Capital LLC acquired a new position in shares of VNET Group in the 3rd quarter valued at $115,000. Blue Trust Inc. boosted its holdings in shares of VNET Group by 785.4% in 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 during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of VNET Group in the 3rd quarter valued at $191,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Company Profile

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.