VNET Group (NASDAQ:VNET) Stock Price Up 6.2%

VNET Group, Inc. (NASDAQ:VNET)’s stock price was up 6.2% during mid-day trading on Monday . The company traded as high as $2.22 and last traded at $2.22. Approximately 199,817 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,519,915 shares. The stock had previously closed at $2.09.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised VNET Group from a “sell” rating to a “hold” rating in a report on Saturday.

VNET Group Price Performance

The stock has a fifty day moving average of $2.12 and a two-hundred day moving average of $1.91. The stock has a market cap of $555.98 million, a price-to-earnings ratio of -0.84 and a beta of -0.35. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

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

Institutional Trading of VNET Group

Institutional investors have recently bought and sold shares of the company. Catalina Capital Group LLC purchased a new stake in VNET Group during the first quarter worth $26,000. Headlands Technologies LLC increased its stake in VNET Group by 1,199.7% in the first 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 last quarter. Jump Financial LLC increased its stake in 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 last quarter. Virtu Financial LLC increased its stake in VNET Group by 135.9% in the fourth 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 last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in VNET Group in the first quarter valued at $328,000. 72.83% of the stock is currently owned by hedge funds and other 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.