Following these proceedings, HSBC Securities upgraded its VNET Group Inc ADR [VNET] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in mid March from “a Neutral” to “a Buy”. HSBC Securities revised its rating on June 12, 2023. It rated VNET as “a Hold” which previously was an “a Buy”.
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Price Performance Review of VNET
On Tuesday, VNET Group Inc ADR [NASDAQ:VNET] saw its stock fall -16.50% to $3.34. Over the last five days, the stock has lost -13.70%. VNET Group Inc ADR shares have risen nearly 16.38% since the year began. Nevertheless, the stocks have risen 21.90% over the past one year. While a 52-week high of $4.50 was reached on 10/02/24, a 52-week low of $1.39 was recorded on 02/05/24. SMA at 50 days reached $2.90, while 200 days put it at $2.17.
Levels Of Support And Resistance For VNET Stock
The 24-hour chart illustrates a support level at 3.05, which if violated will result in even more drops to 2.75. On the upside, there is a resistance level at 3.76. A further resistance level may holdings at 4.17. The Relative Strength Index (RSI) on the 14-day chart is 45.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.22%. Stochastics %K at 32.92% 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 2024-09-30, dropping by -2.4 million shares to a total of 5.65 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 8.04 million shares. There was a decline of -42.44%, which implies that there is a negative sentiment for the stock.
