21Vianet Group (VNET) Sees Strong Trading Volume

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.

21Vianet Group (NASDAQ:VNET) last issued its quarterly earnings data on Thursday, August 16th. The information technology services provider reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $125.18 million for the quarter. 21Vianet Group had a positive return on equity of 2.05% and a negative net margin of 18.44%. Equities analysts forecast that 21Vianet Group Inc will post 0.06 earnings per share for the current year.

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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