VNET Group Inc ADR (NASDAQ: VNET) Is Up 2.59% – Is It Ready For A Rally?

VNET Group Inc ADR (NASDAQ:VNET) price is hovering higher on Tuesday, May 07, jumping 2.59% above its previous close.

A look at today’s price movement shows that the recent level at last check reads $1.93. Taking into account the 52-week price action we note that the stock hit a 52-week high of $3.88 and 52-week low of $1.39. The stock added 10.00% on its value in the past month.

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On average, analysts have forecast the company’s revenue for the quarter will hit 263.22M, with the likely lows of 259.87M and highs of 266.57M. The average estimate suggests sales growth for the quarter will likely rise by 5.50% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of 1.09B for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow 6.80% above that which the company brought in the current year earning report.

Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give VNET a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Sell.

The overview shows that VNET’s price is at present 19.28% off the SMA20 and 16.75% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 65.59, with weekly volatility standing at 5.85%. The indicator jumps to 6.90% when calculated based on the past 30 days. VNET Group Inc ADR (NASDAQ:VNET)’s beta value is holding at -0.35, while the average true range (ATR) indicator is currently reading 0.12.

An analysis of the VNET Group Inc ADR (NASDAQ:VNET) stock in terms of its daily trading volume indicates that the 3-month average is 1.53 million.

Current records show that the company has 252.27M in outstanding shares. The insiders’ percentage holdings are 9.33% of outstanding shares while the percentage share held by institutions stands at 23.63%. But the -31.01% downside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.

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