VNET Group Inc. [VNET] Is Currently 4.66 below its 200 Period Moving Avg: What Does This Mean?


VNET Group Inc. [NASDAQ: VNET] surged by $0.17 during the normal trading session on Tuesday and reaching a high of $3.945 during the day while it closed the day at $3.82. The company report on January 28, 2022 that VNET Announces US$250 Million Investment from Blackstone.

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VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a leading carrier- and cloud-neutral Internet data center services provider in China, today announced that funds managed by Blackstone Tactical Opportunities (NYSE: BX) (“Blackstone”), the world’s largest alternative investment firm, have agreed to make an investment in VNET by purchasing US$250 million of convertible notes (the “Notes”). The Notes have a term of five years and carry interest at 2% per annum.

Josh Chen, Founder and Executive Chairman of VNET, said, “Over the last two years, we have accelerated the growth of our data center footprint in high-demand locations across China’s tier-1 cities. Blackstone’s investment provides us with the capital to take advantage of a robust pipeline of attractive development projects that support our hyperscale and enterprise customers. We look forward to building on this partnership with Blackstone.”.

VNET Group Inc. stock has also loss -40.03% of its value over the past 7 days. However, VNET stock has declined by -53.47% in the 3 months of the year. Over the past six months meanwhile, it has lost -81.00% and lost -57.70% year-on date.

The market cap for VNET stock reached $638.74 million, with 143.94 million shares outstanding and 76.62 million shares in the current float. Compared to the average trading volume of 2.75M shares, VNET reached a trading volume of 6223362 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about VNET Group Inc. [VNET]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VNET shares is $21.52 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VNET stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

HSBC Securities have made an estimate for VNET Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 22, 2021. While these analysts kept the previous recommendation, Goldman dropped their target price from $32.80 to $11.50. The new note on the price target was released on November 19, 2021, representing the official price target for VNET Group Inc. stock. Previously, the target price had yet another raise to $18.50, while HSBC Securities analysts kept a Hold rating on VNET stock.

The Average True Range (ATR) for VNET Group Inc. is set at 0.76, with the Price to Sales ratio for VNET stock in the period of the last 12 months amounting to 0.70. The Price to Book ratio for the last quarter was 0.49, with the Price to Cash per share for the same quarter was set at 3.29.

VNET stock trade performance evaluation

VNET Group Inc. [VNET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -40.03. With this latest performance, VNET shares dropped by -54.42% in over the last four-week period, additionally sinking by -81.00% over the last 6 months – not to mention a drop of -88.71% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VNET stock in for the last two-week period is set at 27.40, with the RSI for the last a single of trading hit 22.81, and the three-weeks RSI is set at 30.77 for VNET Group Inc. [VNET]. The present Moving Average for the last 50 days of trading for this stock 7.89, while it was recorded at 4.90 for the last single week of trading, and 14.77 for the last 200 days.

VNET Group Inc. [VNET]: An insightful look at the core fundamentals

VNET Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

VNET Group Inc. [VNET]: Insider Ownership positions

There are presently around $359 million, or 80.50% of VNET stock, in the hands of institutional investors. The top three institutional holders of VNET stocks are: TT INTERNATIONAL with ownership of 13,000,398, which is approximately 7.38% of the company’s market cap and around 11.25% of the total institutional ownership; BLACKSTONE INC, holding 10,402,130 shares of the stock with an approximate value of $37.97 million in VNET stocks shares; and FIL LTD, currently with $21.68 million in VNET stock with ownership of nearly 30.7% of the company’s market capitalization.

87 institutional holders increased their position in VNET Group Inc. [NASDAQ:VNET] by around 14,322,245 shares. Additionally, 61 investors decreased positions by around 18,577,134 shares, while 19 investors held positions by with 65,460,136 shares. The mentioned changes placed institutional holdings at 98,359,515 shares, according to the latest SEC report filing. VNET stock had 25 new institutional investments in for a total of 2,409,093 shares, while 28 institutional investors sold positions of 9,581,149 shares during the same period.