Shares of 21Vianet Group Inc (NASDAQ:VNET) saw unusually-high trading volume on Wednesday . Approximately 3,867,568 shares were traded during mid-day trading, an increase of 585% from the previous session’s volume of 564,785 shares.The stock last traded at $10.88 and had previously closed at $9.59.
VNET has been the topic of several recent analyst reports. Bank of America began coverage on 21Vianet Group in a research note on Tuesday, September 18th. They issued a “buy” rating on the stock. Jefferies Financial Group began coverage on 21Vianet Group in a research report on Tuesday, October 2nd. They set a “buy” rating on the stock. Zacks Investment Research upgraded 21Vianet Group from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Saturday, August 18th. Finally, BidaskClub upgraded 21Vianet Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. 21Vianet Group has an average rating of “Buy” and a consensus price target of $11.00.
The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -45.31 and a beta of 1.95. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.54.
Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in 21Vianet Group during the 2nd quarter worth $104,000. FNY Investment Advisers LLC bought a new stake in shares of 21Vianet Group in the 2nd quarter valued at about $106,000. Royal Bank of Canada grew its position in shares of 21Vianet Group by 76.5% in the 1st quarter. Royal Bank of Canada now owns 26,533 shares of the information technology services provider’s stock valued at $183,000 after buying an additional 11,501 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of 21Vianet Group in the 3rd quarter valued at about $195,000. Finally, Virtu Financial LLC grew its position in shares of 21Vianet Group by 34.6% in the 2nd quarter. Virtu Financial LLC now owns 20,857 shares of the information technology services provider’s stock valued at $202,000 after buying an additional 5,357 shares during the last quarter. Institutional investors and hedge funds own 30.64% of the company’s stock.
21Vianet Group Company Profile (NASDAQ:VNET)
21Vianet Group, Inc provides carrier-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises in the People's Republic of China. It offers hosting and related services to house servers and networking equipment in its data centers, and connects them through a data transmission network; and other hosting related value-added services.
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