VNET Group (NASDAQ:VNET) Trading Up 3.5%

Shares of VNET Group, Inc. (NASDAQ:VNET) were up 3.5% on Monday . The stock traded as high as $3.60 and last traded at $3.54. Approximately 537,115 shares were traded during trading, a decline of 63% from the average daily volume of 1,467,803 shares. The stock had previously closed at $3.42.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VNET shares. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. Citigroup started coverage on shares of VNET Group in a research note on Wednesday, September 4th. They set a “buy” rating and a $4.00 target price on the stock.

VNET Group Price Performance

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. The stock has a fifty day moving average of $2.28 and a 200-day moving average of $2.05. The stock has a market capitalization of $918.91 million, a price-to-earnings ratio of -1.38, a P/E/G ratio of 5.66 and a beta of -0.32.

VNET Group (NASDAQ:VNET) last posted its earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. The firm had revenue of $274.35 million for the quarter, compared to the consensus estimate of $266.56 million. On average, equities research analysts predict that VNET Group, Inc. will post 0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On VNET Group

Large investors have recently modified their holdings of the business. Jump Financial LLC lifted its stake in shares of VNET Group by 101.6% in the fourth quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock valued at $242,000 after purchasing an additional 42,537 shares during the period. Virtu Financial LLC lifted its holdings in shares of VNET Group by 135.9% during the 4th quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock worth $293,000 after acquiring an additional 58,817 shares during the period. Catalina Capital Group LLC acquired a new position in shares of VNET Group in the 1st quarter valued at $26,000. Susquehanna Fundamental Investments LLC acquired a new position in VNET Group in the first quarter valued at $328,000. Finally, Headlands Technologies LLC grew its holdings in shares of VNET Group by 1,199.7% during the 1st quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 39,050 shares during the period. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Company Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.