VNET Group Inc ADR (NASDAQ:VNET) shares, rose in value, with the stock price down by -0.77% to the previous day’s close as strong demand from buyers drove the stock to $1.93.
Actively observing the price movement in the last trading, the stock closed the session at $1.95. The value of beta (5-year monthly) was -0.30. Referring to stock’s 52-week performance, its high was $4.19, and the low was $1.39. On the whole, VNET has fluctuated by 26.97% over the past month.
With the market capitalization of VNET Group Inc ADR currently standing at about $276.61 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 27, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.22, which is expected to increase to -$0.01 for fiscal year -$0.29 and then to about -$0.44 by fiscal year 2024. Data indicates that the EPS growth is expected to be 60.80% in 2024, while the next year’s EPS growth is forecast to be -51.70%.
Analysts have estimated the company’s revenue for the quarter at $280.86 million, with a low estimate of $280.86 million and a high estimate of $280.86 million. According to the average forecast, sales growth in current quarter could jump up 4.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $1.05 billion, representing an increase of 3.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that VNET’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of VNET currently trading nearly 21.77% and 4.20% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 63.89, while the 7-day volatility ratio is showing 9.30% which for the 30-day chart, stands at 7.54%. Furthermore, VNET Group Inc ADR (VNET)’s beta value is -0.29, and its average true range (ATR) is 0.14.
A comparison of VNET Group Inc ADR (VNET) with its peers suggests the former has fared considerably weaker in the market. VNET showed an intraday change of -0.77% in last session, and over the past year, it shrunk by -35.23%%.
Data on historical trading for VNET Group Inc ADR (NASDAQ:VNET) indicates that the trading volumes over the past 10 days have averaged 2.8 million and over the past 3 months, they’ve averaged 2.50 million. According to company’s latest data on outstanding shares, there are 143.32 million shares outstanding.
Nearly 9.35% of VNET Group Inc ADR’s shares belong to company insiders and institutional investors own 42.69% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.89 million shares as on Feb 29, 2024, resulting in a short ratio of 3.87. According to the data, the short interest in VNET Group Inc ADR (VNET) stood at 3.45% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 8.54 million. The stock has fallen by -32.75% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VNET stock heading into the next quarter.
