VNET Group Inc ADR (NASDAQ: VNET) stock jumped 12.26% on Friday to $2.93 against a previous-day closing price of $2.61. With 5.0 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.16 million shares. During the session, the Information Technology Services company that operates in wider Technology sector, reached to the highest price of $3.0650 whereas the lowest price it dropped to was $2.7000. The 52-week range on VNET shows that it touched its highest point at $6.83 and its lowest point at $2.53 during that stretch. It currently has a 1-year price target of $4.68. Beta for the stock currently stands at -0.20.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VNET was down-trending over the past week, with a drop of -20.81%, but this was up by 3.90% over a month. Three-month performance dropped to -6.69% while six-month performance rose 9.12%. The stock lost -47.21% in the past year, while it has lost -48.32% so far this year. A look at the trailing 12-month EPS for VNET yields -0.27 with Next year EPS estimates of -0.27. For the next quarter, that number is -0.13. This implies an EPS growth rate of 64.35% for this year and -4.96% for next year. EPS is expected to grow by 4.52% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 8.38%.
Float and Shares Shorts:
At present, 143.32 million VNET shares are outstanding with a float of 129.91 million shares on hand for trading. On Oct 12, 2023, short shares totaled 6.59 million, which was 4.44% higher than short shares on Sep 14, 2023. In addition to Mr. Sheng Chen as the firm’s Co-Founder & Executive Chairman, Mr. Jie Dong serves as its Chief Executive Officer.
Institutional Ownership:
Through their ownership of 66.79% of VNET’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 23.52% of VNET, in contrast to 19.94% held by mutual funds. As the largest shareholder in VNET with 4.62% of the stake, MY.Alpha Management holds 6,617,825 shares worth 6,617,825. A second-largest stockholder of VNET, FIL Investments International, holds 5,350,964 shares, controlling over 3.73% of the firm’s shares. FIL Investment Advisors is the third largest shareholder in VNET, holding 5,099,474 shares or 3.56% stake. With a 3.56% stake in VNET, the Fidelity China Special Situations is the largest stakeholder. A total of 5,099,474 shares are owned by the mutual fund manager. The Fidelity Funds SICAV – Global Tec, which owns about 3.50% of VNET stock, is the second-largest Mutual Fund holder. It holds 5,016,521 shares valued at 16.13 million. Fidelity Funds SICAV – Pacific Fu holds 1.46% of the stake in VNET, owning 2,093,026 shares worth 6.73 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VNET since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With VNET analysts setting a high price target of $57.95 and a low target of $21.83, the average target price over the next 12 months is $33.91. Based on these targets, VNET could surge 1877.82% to reach the target high and rise by 645.05% to reach the target low. Reaching the average price target will result in a growth of 1057.34% from current levels.
