Bank of America Begins Coverage on 21Vianet Group (NASDAQ:VNET)

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Bank of America initiated coverage on shares of 21Vianet Group (NASDAQ:VNET) in a research report report published on Tuesday, September 18th, The Fly reports. The firm issued a buy rating on the information technology services provider’s stock.

Several other equities analysts have also weighed in on the stock. BidaskClub lowered shares of 21Vianet Group from a hold rating to a sell rating in a report on Saturday, September 15th. Zacks Investment Research upgraded shares of 21Vianet Group from a hold rating to a buy rating and set a $11.00 price objective on the stock in a report on Saturday, August 18th. Finally, ValuEngine upgraded shares of 21Vianet Group from a hold rating to a buy rating in a report on Friday, June 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. 21Vianet Group has a consensus rating of Buy and an average target price of $11.00.

Shares of VNET stock traded up $0.41 during trading hours on Tuesday, reaching $10.12. 392,835 shares of the company were exchanged, compared to its average volume of 565,496. 21Vianet Group has a fifty-two week low of $5.01 and a fifty-two week high of $11.54. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -42.17 and a beta of 1.94. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

21Vianet Group (NASDAQ:VNET) last announced its earnings results on Thursday, August 16th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.01). 21Vianet Group had a negative net margin of 18.44% and a positive return on equity of 2.05%. The company had revenue of $125.18 million for the quarter. On average, equities research analysts forecast that 21Vianet Group will post 0.01 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dorsey Wright & Associates acquired a new stake in 21Vianet Group in the third quarter worth $1,431,000. Atria Investments LLC bought a new stake in shares of 21Vianet Group during the third quarter worth $301,000. Jane Street Group LLC bought a new stake in shares of 21Vianet Group during the second quarter worth $104,000. Tower Research Capital LLC TRC increased its position in shares of 21Vianet Group by 1,127.6% during the second quarter. Tower Research Capital LLC TRC now owns 27,953 shares of the information technology services provider’s stock worth $271,000 after acquiring an additional 25,676 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of 21Vianet Group during the second quarter worth $8,893,000. Institutional investors own 30.52% of the company’s stock.

21Vianet Group Company Profile

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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