21Vianet Group (NASDAQ:VNET) Stock Price Down 2.4%

21Vianet Group, Inc. (NASDAQ:VNET)’s share price was down 2.4% on Tuesday . The company traded as low as $16.26 and last traded at $16.45. Approximately 2,117 shares traded hands during trading, a decline of 100% from the average daily volume of 1,992,260 shares. The stock had previously closed at $16.86.

A number of research analysts have weighed in on VNET shares. JPMorgan Chase & Co. initiated coverage on shares of 21Vianet Group in a research report on Tuesday, August 17th. They set an “overweight” rating and a $27.00 target price for the company. HSBC initiated coverage on shares of 21Vianet Group in a research note on Monday. They issued a “hold” rating and a $18.50 target price on the stock. TheStreet cut shares of 21Vianet Group from a “c” rating to a “d” rating in a research note on Wednesday, June 30th. Citigroup lowered their target price on shares of 21Vianet Group from $43.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, August 25th. Finally, Zacks Investment Research raised shares of 21Vianet Group from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Thursday, August 26th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $27.70.

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $2.31 billion, a P/E ratio of -14.11 and a beta of 0.20. The company’s 50 day simple moving average is $18.43 and its two-hundred day simple moving average is $21.96.

21Vianet Group (NASDAQ:VNET) last issued its quarterly earnings data on Monday, August 23rd. The information technology services provider reported $3.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $3.09. The firm had revenue of $231.85 million for the quarter, compared to analysts’ expectations of $228.01 million. 21Vianet Group had a negative net margin of 10.03% and a negative return on equity of 7.80%. On average, research analysts anticipate that 21Vianet Group, Inc. will post 0.13 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in VNET. Blackstone Group Inc. acquired a new position in shares of 21Vianet Group during the first quarter worth approximately $275,669,000. Cederberg Capital Ltd acquired a new position in 21Vianet Group in the first quarter valued at approximately $233,870,000. TT International Asset Management LTD lifted its holdings in 21Vianet Group by 83.4% in the second quarter. TT International Asset Management LTD now owns 9,666,999 shares of the information technology services provider’s stock valued at $221,857,000 after buying an additional 4,396,872 shares during the period. BlackRock Inc. increased its stake in 21Vianet Group by 117.8% in the first quarter. BlackRock Inc. now owns 3,808,000 shares of the information technology services provider’s stock valued at $122,999,000 after purchasing an additional 2,059,245 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of 21Vianet Group by 1,058.2% during the first quarter. Canada Pension Plan Investment Board now owns 2,219,300 shares of the information technology services provider’s stock worth $71,684,000 after acquiring an additional 2,027,684 shares in the last quarter. Institutional investors own 68.96% of the company’s stock.

About 21Vianet Group (NASDAQ:VNET)

21Vianet Group, Inc is a holding company, which engages in the provision of carrier-neutral internet data center services. Its services include interconnectivity, colocation or data center managed hosting services, and cloud services. The company was founded by Sheng Chen and Jun Zhang on October 16, 1999 and is headquartered in Beijing, China.

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