As this happened, BofA Securities upgraded its VNET Group Inc ADR [VNET] rating to a Buy from a a Neutral in a research note published on March 19, 2024; the price target was decreased to $2.70 from $3.90. HSBC Securities also remained covering VNET and has decreased its forecast on June 12, 2023 with a “Hold” recommendation from previously “Buy” rating. Credit Suisse revised its rating on September 01, 2022. It rated VNET as “a Neutral” which previously was an “an Outperform”.
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Price Performance Review of VNET
On Tuesday, VNET Group Inc ADR [NASDAQ:VNET] saw its stock jump 9.89% to $3.00. Over the last five days, the stock has lost -1.32%. VNET Group Inc ADR shares have risen nearly 4.53% since the year began. Nevertheless, the stocks have fallen -1.32% over the past one year. While a 52-week high of $3.87 was reached on 09/10/24, a 52-week low of $1.39 was recorded on 02/05/24. SMA at 50 days reached $2.22, while 200 days put it at $2.08.
Levels Of Support And Resistance For VNET Stock
The 24-hour chart illustrates a support level at 2.83, which if violated will result in even more drops to 2.65. On the upside, there is a resistance level at 3.09. A further resistance level may holdings at 3.17. The Relative Strength Index (RSI) on the 14-day chart is 67.62, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 10.00%. Stochastics %K at 78.48% indicates the stock is a holding.
How much short interest is there in VNET Group Inc ADR?
A steep rise in short interest was recorded in VNET Group Inc ADR stocks on 2024-08-30, dropping by -0.57 million shares to a total of 8.04 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 8.61 million shares. There was a decline of -7.08%, which implies that there is a negative sentiment for the stock.