VNET Group (NASDAQ:VNET) Shares Gap Down – What’s Next?

VNET Group, Inc. (NASDAQ:VNET)’s share price gapped down before the market opened on Friday . The stock had previously closed at $9.01, but opened at $8.76. VNET Group shares last traded at $7.88, with a volume of 1,207,585 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Nomura Securities upgraded VNET Group to a “strong-buy” rating in a report on Friday, February 21st. StockNews.com lowered VNET Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th. Finally, Citigroup increased their price objective on VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $9.30.

VNET Group Stock Down 8.4 %

The company has a market cap of $2.12 billion, a price-to-earnings ratio of -3.72, a PEG ratio of 1.01 and a beta of 0.07. The business has a 50-day simple moving average of $10.00 and a two-hundred day simple moving average of $6.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

VNET Group (NASDAQ:VNET) last posted 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). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The company had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. As a group, equities analysts forecast that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 4,939 shares during the period. Headlands Technologies LLC lifted its position in shares of VNET Group by 5.7% during the 4th quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after purchasing an additional 7,737 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in VNET Group during the 4th quarter valued at approximately $41,000. Catalina Capital Group LLC acquired a new stake in VNET Group in the 4th quarter valued at approximately $54,000. Finally, Wolverine Trading LLC bought a new position in VNET Group in the 3rd quarter worth approximately $46,000. Institutional investors 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.