JPMorgan Chase & Co. Has $558,000 Holdings in VNET Group, Inc. (NASDAQ:VNET)

JPMorgan Chase & Co. lifted its holdings in VNET Group, Inc. (NASDAQ:VNET) by 136,783.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 136,883 shares of the information technology services provider’s stock after purchasing an additional 136,783 shares during the period. JPMorgan Chase & Co. owned 0.05% of VNET Group worth $558,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in VNET. Millennium Management LLC increased its stake in VNET Group by 89.1% during the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock valued at $6,229,000 after acquiring an additional 1,400,683 shares during the period. Inspire Investing LLC acquired a new position in shares of VNET Group in the 3rd quarter worth approximately $1,092,000. Geode Capital Management LLC boosted its holdings in shares of VNET Group by 237.7% in the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock worth $1,218,000 after acquiring an additional 210,124 shares in the last quarter. Anson Funds Management LP lifted its holdings in VNET Group by 84.9% during the 3rd quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider’s stock worth $1,836,000 after buying an additional 206,580 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in VNET Group during the 3rd quarter worth $519,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Down 3.1 %

VNET Group stock opened at $6.77 on Tuesday. The company has a market capitalization of $1.74 billion, a PE ratio of -3.05, a PEG ratio of 0.55 and a beta of -0.24. VNET Group, Inc. has a 12-month low of $1.39 and a 12-month high of $7.18. The firm’s fifty day moving average is $4.64 and its 200 day moving average is $3.51. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

Analyst Upgrades and Downgrades

VNET has been the subject of several recent research reports. HSBC upgraded shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $3.10 to $5.00 in a report on Friday, November 29th. Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group raised their target price on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $4.78.

VNET Group 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.