VNET Group, Inc. (NASDAQ:VNET – Get Free Report) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 7,220,000 shares, a drop of 13.2% from the May 31st total of 8,320,000 shares. Based on an average daily trading volume, of 901,400 shares, the days-to-cover ratio is currently 8.0 days.
Analyst Upgrades and Downgrades
VNET has been the topic of several recent research reports. Bank of America upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $3.90 to $2.70 in a research report on Tuesday, March 19th. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd.
Check Out Our Latest Stock Analysis on VNET Group
Institutional Investors Weigh In On VNET Group
VNET Group Stock Performance
VNET Group stock opened at $2.06 on Tuesday. VNET Group has a fifty-two week low of $1.39 and a fifty-two week high of $3.88. The company has a market capitalization of $530.24 million, a price-to-earnings ratio of -0.78 and a beta of -0.36. The stock has a fifty day moving average of $2.00 and a two-hundred day moving average of $1.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.
VNET Group (NASDAQ:VNET – Get Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The information technology services provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). VNET Group had a negative return on equity of 15.69% and a negative net margin of 39.32%. The company had revenue of $262.89 million for the quarter, compared to analysts’ expectations of $258.78 million.
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.
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