VNET Group (NASDAQ:VNET) Shares Down 3.8% – Should You Sell?

VNET Group, Inc. (NASDAQ:VNET) was down 3.8% during trading on Tuesday . The company traded as low as $8.55 and last traded at $8.65. Approximately 818,525 shares were traded during trading, a decline of 75% from the average daily volume of 3,271,248 shares. The stock had previously closed at $8.99.

Analyst Ratings Changes

VNET has been the topic of a number of analyst reports. Nomura Securities raised VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. UBS Group increased their target price on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th. StockNews.com cut shares of VNET Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th. Citigroup increased their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $9.30.

VNET Group Stock Performance

The stock has a market cap of $2.19 billion, a P/E ratio of -3.83, a PEG ratio of 1.01 and a beta of 0.07. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The company has a fifty day moving average of $9.75 and a 200 day moving average of $5.92.

VNET Group (NASDAQ:VNET) last announced its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). The firm had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. On average, equities analysts predict that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VNET Group

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of VNET Group by 237.7% during the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock valued at $1,218,000 after buying an additional 210,124 shares during the period. Asset Management One Co. Ltd. bought a new stake in VNET Group in the fourth quarter worth approximately $152,000. JPMorgan Chase & Co. boosted its holdings in VNET Group by 136,783.0% in the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock worth $558,000 after purchasing an additional 136,783 shares in the last quarter. Virtu Financial LLC acquired a new position in VNET Group during the third quarter worth $519,000. Finally, Los Angeles Capital Management LLC bought a new position in VNET Group during the fourth quarter valued at about $294,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.