VNET Group (NASDAQ:VNET) Trading Down 5.5% – Time to Sell?

VNET Group, Inc. (NASDAQ:VNET)’s stock price dropped 5.5% on Tuesday . The company traded as low as $10.76 and last traded at $10.75. Approximately 2,247,799 shares were traded during trading, a decline of 27% from the average daily volume of 3,059,325 shares. The stock had previously closed at $11.38.

Analyst Ratings Changes

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

VNET Group Stock Down 10.0 %

The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -4.44, a P/E/G 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 firm’s fifty day moving average is $9.54 and its two-hundred day moving average is $5.77.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million for the quarter, compared to analyst estimates 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, sell-side analysts expect that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VNET. Barclays PLC grew its stake in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 4,939 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in VNET Group during the fourth quarter worth approximately $41,000. Wolverine Trading LLC acquired a new position in VNET Group in the third quarter worth approximately $46,000. Catalina Capital Group LLC bought a new position in shares of VNET Group in the fourth quarter valued at $54,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of VNET Group during the 4th quarter valued at $66,000. Institutional investors own 72.83% of the company’s stock.

About VNET Group

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.