VNET Group (NASDAQ:VNET) Sets New 1-Year High – What’s Next?

VNET Group, Inc. (NASDAQ:VNET)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $13.66 and last traded at $13.64, with a volume of 3610054 shares trading hands. The stock had previously closed at $12.06.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VNET. UBS Group raised their price target on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a report on Friday, November 29th. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $4.78.

VNET Group Stock Up 14.0 %

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 $3.54 billion, a PE ratio of -6.21, a PEG ratio of 1.00 and a beta of -0.18. The firm’s fifty day moving average is $6.35 and its 200-day moving average is $4.32.

Institutional Trading of VNET Group

Institutional investors have recently modified their holdings of the business. Creative Planning lifted its stake in shares of VNET Group by 124.1% during the 3rd quarter. Creative Planning now owns 117,139 shares of the information technology services provider’s stock worth $478,000 after purchasing an additional 64,866 shares during the period. Blue Trust Inc. boosted its stake in VNET Group by 785.4% in the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock worth $172,000 after buying an additional 37,322 shares during the last quarter. WT Asset Management Ltd purchased a new stake in VNET Group in the 3rd quarter valued at about $326,000. GSA Capital Partners LLP increased its stake in shares of VNET Group by 24.8% during the 3rd quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider’s stock valued at $1,506,000 after acquiring an additional 73,311 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of VNET Group in the third quarter worth approximately $199,000. 72.83% of the stock is currently owned by hedge funds and other 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.