In the latest trading session, 1.46 million VNET Group Inc. (NASDAQ:VNET) shares changed hands as the company’s beta touched -0.20. With the company’s most recent per share price at $2.95 changed hands at -$0.07 or -2.32% at last look, the market valuation stands at $436.48M. VNET’s current price is a discount, trading about -131.53% off its 52-week high of $6.83. The share price had its 52-week low at $2.53, which suggests the last value was 14.24% up since then. When we look at VNET Group Inc.’s average trading volume, we note the 10-day average is 0.84 million shares, with the 3-month average coming to 1.33 million.
Analysts gave the VNET Group Inc. (VNET) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 3 recommended VNET as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. VNET Group Inc.’s EPS for the current quarter is expected to be -$0.07.
VNET Group Inc. (NASDAQ:VNET) trade information
Instantly VNET was in red as seen in intraday trades today. With action -4.22%, the performance over the past five days has been red. The drop to weekly highs of 3.11 on Monday, 09/18/23 subtracted -2.32% to the stock’s daily price. The company’s shares are showing year-to-date downside of -47.97%, with the 5-day performance at -4.22% in the red. However, in the 30-day time frame, VNET Group Inc. (NASDAQ:VNET) is -5.45% down. Looking at the short shares, we see there were 5.92 million shares sold at short interest cover period of 3.01 days.
The consensus price target for the stock as assigned by Wall Street analysts is $35.08, meaning bulls need an upside of 91.59% from its recent market value. According to analyst projections, VNET’s forecast low is $21.83 with $59.68 as the target high. To hit the forecast high, the stock’s price needs a -1923.05% plunge from its current level, while the stock would need to soar -640.0% for it to hit the projected low.
VNET Group Inc. (VNET) estimates and forecasts
Data shows that the VNET Group Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -3.91% over the past 6 months, a 76.92% in annual growth rate that is considerably higher than the industry average of 20.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for VNET Group Inc. will rise 83.30%, while the growth in revenue is estimated to hit -533.30% for the next quarter. Year-over-year growth is forecast to reach 5.00% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $257.56 million. 1 analysts are of the opinion that VNET Group Inc.’s revenue for the quarter ending Dec 2023 will be $289.37 million. The estimates for the next quarter sales put growth at 7.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 5.30%. The 2023 estimates are for VNET Group Inc. earnings to decrease by -261.40%, but the outlook for the next 5-year period is at 4.52% per year.
VNET Group Inc. is expected to release its next quarterly earnings report between November 20 and November 24.
VNET Group Inc. (NASDAQ:VNET)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 13.29% of VNET Group Inc. shares while 66.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 77.03%. There are 66.79% institutions holding the VNET Group Inc. stock share, with FIL LTD the top institutional holder. As of Jun 29, 2023, the company held 10.00% of the shares, roughly 14.33 million VNET shares worth $42.19 million.
Blackstone Inc holds the second largest percentage of outstanding shares, with 7.26% or 10.4 million shares worth $30.63 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Apr 29, 2023 were Vanguard International Stock Index-Emerging Markets Stk and Fidelity Pacific Basin Fund. With 1.7 million shares estimated at $5.0 million under it, the former controlled 1.19% of total outstanding shares. On the other hand, Fidelity Pacific Basin Fund held about 1.15% of the shares, roughly 1.65 million shares worth around $4.86 million.