VNET Group (NASDAQ:VNET) Shares Down 5.7% – Should You Sell?

Shares of VNET Group, Inc. (NASDAQ:VNET) were down 5.7% on Tuesday . The company traded as low as $7.67 and last traded at $7.74. Approximately 1,636,833 shares changed hands during trading, a decline of 53% from the average daily volume of 3,512,400 shares. The stock had previously closed at $8.20.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. StockNews.com downgraded VNET Group from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Citigroup lifted their target price 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, Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $9.30.

VNET Group Stock Performance

The stock has a 50 day moving average of $10.11 and a 200 day moving average of $6.17. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -3.66, a price-to-earnings-growth ratio of 1.01 and a beta of 0.07. 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 issued its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. As a group, analysts predict that VNET Group, Inc. will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in VNET Group by 237.7% during the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock worth $1,218,000 after purchasing an additional 210,124 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of VNET Group during the 4th quarter worth approximately $152,000. JPMorgan Chase & Co. increased its stake in shares of VNET Group by 136,783.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock valued at $558,000 after acquiring an additional 136,783 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of VNET Group during the 3rd quarter valued at $519,000. Finally, Los Angeles Capital Management LLC bought a new position in VNET Group during the fourth quarter worth $294,000. 72.83% of the stock is 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.