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

VNET Group, Inc. (NASDAQ:VNET) has been given an average rating of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $4.78.

Several equities analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $3.10 to $5.00 in a report on Friday, November 29th.

VNET Group Trading Up 4.5 %

Shares of VNET Group stock opened at $12.06 on Wednesday. The business has a fifty day simple moving average of $6.35 and a 200-day simple moving average of $4.32. VNET Group has a fifty-two week low of $1.42 and a fifty-two week high of $13.04. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -5.43, a price-to-earnings-growth ratio of 0.78 and a beta of -0.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VNET. SG Americas Securities LLC acquired a new stake in shares of VNET Group during the third quarter valued at approximately $262,000. Creative Planning raised its stake in VNET Group by 124.1% during the 3rd quarter. Creative Planning now owns 117,139 shares of the information technology services provider’s stock valued at $478,000 after purchasing an additional 64,866 shares during the period. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 37,322 shares in the last quarter. WT Asset Management Ltd acquired a new stake in shares of VNET Group in the third quarter worth $326,000. Finally, GSA Capital Partners LLP grew its holdings in shares of VNET Group by 24.8% during the third quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider’s stock valued at $1,506,000 after buying an additional 73,311 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.