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

Shares of VNET Group, Inc. (NASDAQ:VNET) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $4.78.

A number of research analysts recently issued reports on the stock. UBS Group raised their target price on shares of 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 VNET Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $3.10 to $5.00 in a research note on Friday, November 29th.

VNET Group Stock Down 1.8 %

Shares of VNET Group stock opened at $11.54 on Wednesday. VNET Group has a 12-month low of $1.42 and a 12-month high of $13.04. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The stock has a 50 day moving average price of $6.04 and a two-hundred day moving average price of $4.18. The stock has a market capitalization of $2.97 billion, a P/E ratio of -5.20, a PEG ratio of 0.78 and a beta of -0.18.

Hedge Funds Weigh In On VNET Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in VNET. JPMorgan Chase & Co. grew its holdings in shares of VNET Group by 622.8% during the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock worth $4,690,000 after purchasing an additional 852,519 shares in the last quarter. Monolith Management Ltd bought a new position in VNET Group in the fourth quarter worth $2,822,000. Symmetry Investments LP acquired a new stake in VNET Group during the fourth quarter worth $2,708,000. HCEP Management Ltd bought a new stake in VNET Group in the 4th quarter valued at $2,491,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of VNET Group in the 4th quarter valued at $1,811,000. 72.83% of the stock is currently owned by institutional investors.

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.