Price Action Report: Could 21Vianet Group Inc Change Direction After Touching 52 Week Low?

Price Action Report: Could 21Vianet Group Inc Change Direction After Touching 52 Week Low?

The stock of 21Vianet Group Inc (NASDAQ:VNET) hit a new 52-week low and has $6.72 target or 5.00% below today’s $7.07 share price. The 5 months bearish chart indicates high risk for the $617.69 million company. The 1-year low was reported on Oct, 13 by If the $6.72 price target is reached, the company will be worth $30.88M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.75M shares traded hands or 120.37% up from the average. 21Vianet Group Inc (NASDAQ:VNET) has declined 60.70% since March 10, 2016 and is downtrending. It has underperformed by 68.22% the S&P500.

Analysts await 21Vianet Group Inc (NASDAQ:VNET) to report earnings on November, 22. They expect $-0.11 EPS, down 175.00% or $0.07 from last year’s $-0.04 per share. After $-0.22 actual EPS reported by 21Vianet Group Inc for the previous quarter, Wall Street now forecasts -50.00% EPS growth.

21Vianet Group Inc (NASDAQ:VNET) Ratings Coverage

Out of 2 analysts covering 21Vianet Group (NASDAQ:VNET), 1 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 50% are positive. 21Vianet Group has been the topic of 4 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The rating was downgraded by JP Morgan to “Underweight” on Wednesday, August 17. On Thursday, August 27 the stock rating was maintained by Canaccord Genuity with “Hold”. JP Morgan downgraded 21Vianet Group Inc (NASDAQ:VNET) on Wednesday, November 25 to “Neutral” rating. The firm has “Overweight” rating given on Friday, August 28 by Pacific Crest.

According to Zacks Investment Research, “21Vianet Group, Inc. operates as a carrier-neutral Internet data center services provider in China. It provides hosting and related services, managed network services and cloud computing infrastructure. The Company’s infrastructure is interconnected with the networks operated by all of China’s telecommunications carriers, major non-carriers and local Internet service providers, or ISPs. 21Vianet Group, Incorporation. Its customers include Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises. 21Vianet Group, Inc. is headquartered in Beijing, the Peoples’ Republic of China.”

More important recent 21Vianet Group Inc (NASDAQ:VNET) news were published by: which released: “21Vianet Group Inc. and Unisplendour Establish Joint Venture” on June 17, 2016, also published article titled: “21Vianet Group, Inc. Announces Receipt of Withdrawal of Buyer Group’s Going …”, published: “21Vianet Group, Inc. Announces Issuance of RMB1.75 Billion Convertible Bonds …” on April 29, 2016. More interesting news about 21Vianet Group Inc (NASDAQ:VNET) was released by: and their article: “21Vianet Group, Inc. Reports Second Quarter 2016 Unaudited Financial Results” with publication date: August 16, 2016.

VNET Company Profile

21Vianet Group, Inc., incorporated on October 16, 2009, is a carrier-neutral Internet data center services provider. The Firm hosts its customers’ servers and networking equipment and provides interconnectivity. The Firm also provides managed network services to enable clients to deliver data across the Internet through its data transmission network and smart routing technology. The Firm provides value-added services, such as content delivery network (CDN) services, virtual private network (VPN) services and last-mile wired broadband services. It offers public cloud services, private cloud and hybrid services. In addition, the Company also offers container data center service. The Company’s service offerings include hosting and related services, and managed network services.

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