VNET Group Inc. [VNET] Stock trading around $4.74 per share: What’s Next?

VNET Group Inc. [NASDAQ: VNET] traded at a low on 12/08/22, posting a -2.27 loss after which it closed the day’ session at $4.74. The company report on November 22, 2022 that VNET Reports Unaudited Third Quarter 2022 Financial Results.

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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 its unaudited financial results for the three months ended September 30, 2022.

“In the third quarter of 2022, we maintained steady growth across each of our business lines with a continued focus on fulfilling market demand for high-quality and reliable IDC services against the complicated macro backdrop,” said Jeff Dong, Chief Executive Officer of VNET. “Led by our dual-core growth strategy, we continued to gain sales momentum in our wholesale business while expanding our customer base with exciting progress in value-added service offerings of our retail business. On top of our success to acquire a wholesale service contract of approximately 15MW with a leading cloud service provider in the third quarter, we recently once again extended our contract with one of our existing wholesale customers, a leading social platform in China, to add new capacity of approximately 33MW. Looking ahead, we still see strong long-term demand with accelerating digital transformation across a wide spectrum of verticals. We will continue to execute prudently yet decisively, strategically positioning VNET to capture rising opportunities and creating sustainable value for our stakeholders along the way.”.

The results of the trading session contributed to over 3983161 shares changing hands. Over the past one week, the price volatility of VNET Group Inc. stands at 9.72% while the volatility over the past one month is 7.96%.

The market cap for VNET stock reached $680.47 million, with 148.07 million shares outstanding and 123.84 million shares in the current float. Compared to the average trading volume of 1.80M shares, VNET reached a trading volume of 3983161 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $8.76 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 2.10. 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.

Credit Suisse have made an estimate for VNET Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 01, 2022. The new note on the price target was released on May 25, 2022, representing the official price target for VNET Group Inc. stock. Previously, the target price had yet another raise to $17.40, while HSBC Securities analysts kept a Buy rating on VNET stock. On November 19, 2021, analysts decreased their price target for VNET shares from 32.80 to 11.50.

The Average True Range (ATR) for VNET Group Inc. is set at 0.45, with the Price to Sales ratio for VNET stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 0.74. Price to Free Cash Flow for VNET in the course of the last twelve months was 2.12 with Quick ratio for the last quarter at 1.30.

How has VNET stock performed recently?

VNET Group Inc. [VNET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.66. With this latest performance, VNET shares dropped by -12.87% in over the last four-week period, additionally sinking by -24.64% over the last 6 months – not to mention a drop of -48.14% 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 43.89, with the RSI for the last a single of trading hit 40.88, and the three-weeks RSI is set at 45.54 for VNET Group Inc. [VNET]. The present Moving Average for the last 50 days of trading for this stock 5.10, while it was recorded at 5.00 for the last single week of trading, and 5.59 for the last 200 days.

VNET Group Inc. [VNET]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and VNET Group Inc. [VNET] shares currently have an operating margin of +2.11 and a Gross Margin at +22.31. VNET Group Inc.’s Net Margin is presently recorded at +8.08.

Return on Equity for this stock inclined to 7.25, with Return on Assets sitting at 2.35.

VNET Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

Insider trade positions for VNET Group Inc. [VNET]

There are presently around $439 million, or 76.20% of VNET stock, in the hands of institutional investors. The top three institutional holders of VNET stocks are: FIL LTD with ownership of 13,502,749, which is approximately 6.37% of the company’s market cap and around 13.33% of the total institutional ownership; BLACKSTONE INC., holding 10,402,130 shares of the stock with an approximate value of $49.31 million in VNET stocks shares; and TT INTERNATIONAL, currently with $44.73 million in VNET stock with ownership of nearly -23.667% of the company’s market capitalization.

55 institutional holders increased their position in VNET Group Inc. [NASDAQ:VNET] by around 16,564,274 shares. Additionally, 51 investors decreased positions by around 10,387,235 shares, while 16 investors held positions by with 65,574,447 shares. The mentioned changes placed institutional holdings at 92,525,956 shares, according to the latest SEC report filing. VNET stock had 18 new institutional investments in for a total of 6,050,853 shares, while 17 institutional investors sold positions of 2,076,705 shares during the same period.

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