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

VNET Group, Inc. (NASDAQ:VNET) has been assigned an average recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.78.

A number of equities analysts recently commented on the company. Hsbc Global Res upgraded VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. Citigroup began coverage on shares of VNET Group in a research note on Wednesday, September 4th. They set a “buy” rating and a $4.00 price target on the stock. HSBC raised shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group raised shares of VNET Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. Finally, UBS Group boosted their price target on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday, November 29th.

Institutional Trading of VNET Group

Institutional investors and hedge funds have recently modified their holdings of the company. Ballentine Partners LLC acquired a new stake in VNET Group during the second quarter worth $36,000. Wolverine Trading LLC bought a new position in shares of VNET Group during the 3rd quarter worth about $46,000. AXA S.A. acquired a new stake in shares of VNET Group during the 2nd quarter valued at about $65,000. Walleye Capital LLC acquired a new stake in shares of VNET Group during the 3rd quarter valued at about $115,000. Finally, Blue Trust Inc. increased its stake in VNET Group by 785.4% in the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after acquiring an additional 37,322 shares during the period. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Up 3.6 %

VNET opened at $4.27 on Tuesday. The company has a market capitalization of $1.10 billion, a PE ratio of -1.92 and a beta of -0.19. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. VNET Group has a fifty-two week low of $1.39 and a fifty-two week high of $4.50. The business has a 50-day moving average of $3.73 and a 200-day moving average of $2.99.

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.