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

VNET Group, Inc. (NASDAQ:VNET) gapped down before the market opened on Thursday . The stock had previously closed at $11.31, but opened at $10.71. VNET Group shares last traded at $11.02, with a volume of 2,174,966 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VNET shares. UBS Group raised their price target on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $3.10 to $5.00 in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $4.78.

VNET Group Price Performance

The company has a market cap of $2.91 billion, a P/E ratio of -5.10, a PEG ratio of 0.78 and a beta of -0.18. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average price of $5.74 and a two-hundred day moving average price of $4.03.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VNET. Headlands Technologies LLC grew its stake in shares of VNET Group by 5.7% in the fourth quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock valued at $685,000 after buying an additional 7,737 shares in the last quarter. Catalina Capital Group LLC acquired a new stake in VNET Group in the fourth quarter valued at $54,000. Wolverine Trading LLC bought a new position in shares of VNET Group in the 3rd quarter valued at about $46,000. Blue Trust Inc. grew its position in shares of VNET Group by 29.1% in the 4th quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock valued at $257,000 after acquiring an additional 12,237 shares during the period. Finally, Wedbush Securities Inc. bought a new position in shares of VNET Group in the 4th quarter valued at about $127,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

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.