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Risk-Taking Investors May Find VNET Group Inc. (NASDAQ: VNET) Worth A Gamble.

In the last trading session, 1.08 million shares of the VNET Group Inc. (NASDAQ:VNET) were traded, and its beta was -0.23. Most recently the company’s share price was $2.76, and it changed around -$0.06 or -2.13% from the last close, which brings the market valuation of the company to $416.51M. VNET currently trades at a discount to its 52-week high of $6.83, offering almost -147.46% off that amount. The share price’s 52-week low was $2.65, which indicates that the current value has risen by an impressive 3.99% since then. We note from VNET Group Inc.’s average daily trading volume that its 10-day average is 1.07 million shares, with the 3-month average coming to 2.07 million.

VNET Group Inc. (NASDAQ:VNET) trade information

Instantly VNET has showed a red trend with a performance of -2.13% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.97 on Tuesday, 05/23/23 increased the stock’s daily price by 7.07%. The company’s shares are currently down -51.32% year-to-date, but still down -7.69% over the last five days. On the other hand, VNET Group Inc. (NASDAQ:VNET) is -4.50% down in the 30-day period. We can see from the shorts that 5.97 million shares have been sold at a short interest cover period of 2.33 day(s).

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The consensus price target as assigned by Wall Street analysts is $37.30, which translates to bulls needing to increase their stock price by 92.6% from its current value. Analyst projections state that VNET is forecast to be at a low of $24.12 and a high of $56.41. In order for the stock price to hit the forecast high, the stock would need to plunge -1943.84% from its current level, while the stock would need to crash -773.91% from its current level to reach the projected low.

VNET Group Inc. (VNET) estimates and forecasts

VNET Group Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -45.67 percent over the past six months and at a 26.92% annual growth rate that is well above the industry average of 10.60%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -400.00% in revenue this quarter, and will report an increase of 75.00% in the next quarter. The year-over-year growth rate is expected to be 9.70%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $255.68 million in revenue for the current quarter. 1 analysts expect VNET Group Inc. to make $262.38 million in revenue for the quarter ending Jun 2023. The company’s sales for the same quarters a year ago were $228.64 million and $239.66 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 11.80%. Forecasts for the next quarter put sales growth at 9.50%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5.30%.

VNET Dividends

VNET Group Inc.’s next quarterly earnings report is expected to be released on May 24.

VNET Group Inc. (NASDAQ:VNET)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 13.33% of VNET Group Inc. shares, and 71.57% of them are in the hands of institutional investors. The stock currently has a share float of 82.58%. VNET Group Inc. stock is held by 151 institutions, with FIL LTD being the largest institutional investor. By Mar 30, 2023, it held 9.61% of the shares, which is about 14.28 million shares worth $46.28 million.

Blackstone Inc, with 7.00% or 10.4 million shares worth $33.7 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard International Stock Index-Emerging Markets Stk and Fidelity Pacific Basin Fund were the top two Mutual Funds as of Jan 30, 2023. The former held 1.69 million shares worth $9.92 million, making up 1.14% of all outstanding shares. On the other hand, Fidelity Pacific Basin Fund held roughly 1.65 million shares worth around $6.55 million, which represents about 1.11% of the total shares outstanding.

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