VNET Group (NASDAQ:VNET) Shares Down 4.4% – Time to Sell?

Shares of VNET Group, Inc. (NASDAQ:VNET) fell 4.4% on Friday . The stock traded as low as $7.15 and last traded at $7.15. 253,399 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 4,648,214 shares. The stock had previously closed at $7.48.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VNET. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. UBS Group upped their price objective on shares of VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. HSBC raised shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price on the stock in a report on Wednesday, October 9th. Finally, Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, VNET Group currently has a consensus rating of “Buy” and an average price target of $4.78.

VNET Group Stock Performance

The firm has a fifty day moving average of $4.85 and a 200-day moving average of $3.60. 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 market capitalization of $1.79 billion, a price-to-earnings ratio of -3.13, a PEG ratio of 0.65 and a beta of -0.24.

Institutional Investors Weigh In On VNET Group

Large investors have recently added to or reduced their stakes in the business. Wolverine Trading LLC purchased a new position in shares of VNET Group during the 3rd quarter worth approximately $46,000. Catalina Capital Group LLC purchased a new position in VNET Group during the fourth quarter worth $54,000. AXA S.A. acquired a new position in shares of VNET Group in the second quarter worth $65,000. Walleye Capital LLC acquired a new position in shares of VNET Group in the third quarter worth $115,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of VNET Group during the fourth quarter valued at $152,000. 72.83% of the stock is owned by institutional investors and hedge funds.

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.