Virtu Financial LLC Purchases Shares of 127,281 VNET Group, Inc. (NASDAQ:VNET)

Virtu Financial LLC purchased a new stake in shares of VNET Group, Inc. (NASDAQ:VNET) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 127,281 shares of the information technology services provider’s stock, valued at approximately $519,000.

Several other hedge funds have also bought and sold shares of VNET. Ballentine Partners LLC bought a new stake in VNET Group during the second quarter valued at about $36,000. AXA S.A. bought a new position in shares of VNET Group in the second quarter worth about $65,000. Millennium Management LLC boosted its stake in shares of VNET Group by 89.1% in the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock worth $6,229,000 after acquiring an additional 1,400,683 shares during the period. SG Americas Securities LLC bought a new position in shares of VNET Group in the third quarter worth about $262,000. Finally, Inspire Investing LLC bought a new position in shares of VNET Group in the third quarter worth about $1,092,000. Institutional investors own 72.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Hsbc Global Res raised VNET Group to a “strong-buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. Citigroup assumed coverage on VNET Group in a research note on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price objective for the company. HSBC raised VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a research note on Wednesday, October 9th. Finally, UBS Group increased their price target on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $4.78.

VNET Group Price Performance

Shares of VNET Group stock opened at $3.99 on Monday. The stock has a 50 day moving average of $3.73 and a 200 day moving average of $2.89. VNET Group, Inc. has a 12 month low of $1.39 and a 12 month high of $4.50. The firm has a market cap of $1.03 billion, a PE ratio of -1.80 and a beta of -0.19. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46.

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.