VNET Group Inc ADR [VNET] stock is trading at $1.68, up 9.80%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The VNET shares have gain 9.80% over the last week, with a monthly amount glided 8.39%, and seem to be holding up well over a long-time horizon.
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On 5, February 2024, VNET Announces the Completion of the Repurchase Right Offer for Its 0.00% Convertible Senior Notes due 2026. In a post published today on Yahoo Finance, VNET Group, Inc. (Nasdaq: VNET) (“VNET” or the “Company”), a leading carrier- and cloud-neutral internet data center services provider in China, today announced the completion of its previously announced repurchase right offer relating to its 0.00% Convertible Senior Notes due 2026 (CUSIP No. 90138V AB3) (the “Notes”). The repurchase right offer expired at 5:00 p.m. (New York City time) on Tuesday, January 30, 2024. Based on information from Citibank, N.A. as the paying agent for the Notes, US$600,000,000 aggregate principal amount of the Notes were validly surrendered and not withdrawn prior to the expiration of the repurchase right offer. The aggregate cash purchase price of these Notes is US$600,000,000. The Company has completed the payment of the Repurchase Price to the relevant Holders whose Notes were surrendered and accepted for repurchase and such Notes have been successfully canceled. As of February 2, 2024, there are no outstanding Notes.
From an analyst’s perspective:
Previously, HSBC Securities downgraded its rating to Hold on June 12, 2023, and dropped its price target to $2.90. On September 01, 2022, downgrade downgraded it’s rating to Neutral and revised its price target to $5.90 on the stock. Goldman upgraded its rating to a Neutral but stick to its price target of $6.50 on May 25, 2022. HSBC Securities upgraded its rating to a Buy but $17.40 remained the price target by the analyst firm on November 22, 2021. Goldman downgraded its rating to Sell for this stock on November 19, 2021, and downed its price target to $11.50. In a note dated October 11, 2021, HSBC Securities initiated an Hold rating and provided a target price of $18.50 on this stock.
VNET Group Inc ADR [VNET] stock has fluctuated between $1.39 and $4.19 over the past year. Currently, Wall Street analysts expect the stock to reach $8.2 within the next 12 months. VNET Group Inc ADR [NASDAQ: VNET] shares were valued at $1.68 at the most recent close of the market. An investor can expect a potential return of 388.1% based on the average VNET price forecast.
Analyzing the VNET fundamentals
VNET Group Inc ADR [NASDAQ:VNET] reported sales of 1.05B for the trailing twelve months, which represents a drop of -1.64%. Gross Profit Margin for this corporation currently stands at 0.18% with Operating Profit Margin at 0.02%, Pretax Profit Margin comes in at -0.02%, and Net Profit Margin reading is -0.03%. To continue investigating profitability, this company’s Return on Assets is posted at -0.01, Equity is -0.04 and Total Capital is 0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 2.61.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 1.6033 points at the first support level, and at 1.5267 for the second support level. However, for the 1st resistance point, the stock is sitting at 1.7633, and for the 2nd resistance point, it is at 1.8467.
VNET Group Inc ADR [VNET] reported earnings per share of -$0.04 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.07/share, meaning a difference of $0.03 and a surprise factor of 42.90%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were -$0.21 per share as compared to estimates of -$0.05 per share, a difference of -$0.16 representing a surprise of -320.00%.
Ratios To Look Out For
For context, VNET Group Inc ADR’s Current Ratio is 0.71. Further, the Quick Ratio stands at 0.71, while the Cash Ratio is 0.24. Considering the valuation of this stock, the price to sales ratio is 0.23, the price to book ratio is 0.28.
