VNET Group Inc ADR (NASDAQ:VNET) price on current trading day, rose 9.14% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.06.
A look at the stock’s price movement, the level at last check in today’s session was $3.72, moving within a range at $4.02 and $4.43. The beta value (5-Year monthly) was -0.277. Turning to its 52-week performance, $4.50 and $1.39 were the 52-week high and 52-week low respectively. Overall, VNET moved 10.03% over the past month.
VNET Group Inc ADR’s market cap currently stands at around $1.06 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 2.05B for the company’s revenue for the quarter, with a low and high estimate of 2.04B and 2.06B respectively. The average forecast suggests up to a 8.03% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 8.08B, representing a 9.03% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that VNET is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 3 recommend VNET as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
VNET’s current price about 2.97% and 9.47% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.92, while 7-day volatility ratio is 7.05% and 6.88% in the 30-day chart. Further, VNET Group Inc ADR (VNET) has a beta value of -0.20, and an average true range (ATR) of 0.30. Analysts have given the company’s stock an average 52-week price target of $6.1, forecast between a low of $4 and high of $7.98. Looking at the price targets, the low is 1.48% off recent price level in today’s trading while to achieve the yearly target high, it has to move -96.55%. Nonetheless, investors will most likely welcome a -50.25% jump to $6.1 which is the analysts’ median price.
If we refocus on VNET Group Inc ADR (NASDAQ:VNET), historical trading data shows that trading volumes averaged 2.24 over the past 10 days and 2.00 million over the past 3 months. The company’s latest data on shares outstanding shows there are 258.08 million shares.
The 5.18% of VNET Group Inc ADR’s shares are in the hands of company insiders while institutional holders own 25.42% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.62 million on 2024-10-31, giving us a short ratio of 2.8. The data shows that as of 2024-10-31 short interest in VNET Group Inc ADR (VNET) stood at 302.99999 of shares outstanding, with shares short falling to 5.65 million registered in 2024-09-30. Current price change has pushed the stock 41.46% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the VNET stock continues to rise going into the next quarter.
