In the meantime, Goldman upgraded its VNET Group Inc ADR [VNET] rating to a Buy from a a Neutral in a research note published on November 29, 2024; the price target was increased to $5 from $3.10. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who increased its forecast for the stock in early October from “a Hold” to “a Buy”. BofA Securities also remained covering VNET and has increased its forecast on March 19, 2024 with a “Buy” recommendation from previously “Neutral” rating.
Price Performance Review of VNET
On Tuesday, VNET Group Inc ADR [NASDAQ:VNET] saw its stock jump 7.53% to $5.57. Over the last five days, the stock has gained 10.96%. VNET Group Inc ADR shares have risen nearly 17.51% since the year began. Nevertheless, the stocks have risen 115.89% over the past one year. While a 52-week high of $5.36 was reached on 01/07/25, a 52-week low of $1.39 was recorded on 01/02/25. SMA at 50 days reached $3.91, while 200 days put it at $2.74.
Levels Of Support And Resistance For VNET Stock
The 24-hour chart illustrates a support level at 5.26, which if violated will result in even more drops to 4.95. On the upside, there is a resistance level at 5.79. A further resistance level may holdings at 6.01. The Relative Strength Index (RSI) on the 14-day chart is 71.93, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.88, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 5.96%. Stochastics %K at 87.32% indicates the stock is a selling.
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 2024-10-31, dropping by -1.02 million shares to a total of 4.62 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 5.65 million shares. There was a decline of -22.11%, which implies that there is a negative sentiment for the stock.
