VNET Group (NASDAQ:VNET) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of VNET Group (NASDAQ:VNET) from a sell rating to a hold rating in a research note released on Saturday.

Separately, Bank of America upgraded VNET Group from a neutral rating to a buy rating and cut their price objective for the stock from $3.90 to $2.70 in a research report on Tuesday, March 19th.

VNET Group Price Performance

VNET opened at $2.24 on Friday. The stock’s 50 day simple moving average is $1.95 and its 200 day simple moving average is $1.99. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. VNET Group has a 1 year low of $1.39 and a 1 year high of $3.88. The firm has a market cap of $576.58 million, a price-to-earnings ratio of -0.85 and a beta of -0.33.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Wednesday, May 29th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.13). The company had revenue of $262.89 million for the quarter, compared to the consensus estimate of $258.78 million. VNET Group had a negative return on equity of 15.69% and a negative net margin of 39.32%.

Institutional Investors Weigh In On VNET Group

A number of large investors have recently made changes to their positions in VNET. Catalina Capital Group LLC purchased a new position in shares of VNET Group in the 1st quarter valued at approximately $26,000. Headlands Technologies LLC lifted its stake in shares of VNET Group by 1,199.7% in the 1st quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 39,050 shares during the period. Jump Financial LLC lifted its stake in shares of VNET Group by 101.6% in the 4th 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 stake in shares of VNET Group by 135.9% in the 4th quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock valued at $293,000 after purchasing an additional 58,817 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of VNET Group in the 1st quarter valued at approximately $328,000. 72.83% of the stock is currently owned by institutional investors.

About VNET Group

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.