StockNews.com Upgrades VNET Group (NASDAQ:VNET) to Hold

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

VNET Group Stock Down 3.2 %

VNET opened at $2.09 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $537.97 million, a price-to-earnings ratio of -0.79 and a beta of -0.36. The firm’s fifty day moving average is $2.13 and its 200 day moving average is $1.90. VNET Group has a fifty-two week low of $1.39 and a fifty-two week high of $3.88.

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

Institutional Trading of VNET Group

A number of large investors have recently made changes to their positions in the business. Catalina Capital Group LLC bought a new position in VNET Group during the 1st quarter valued at about $26,000. Headlands Technologies LLC grew its holdings in 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 valued at $66,000 after purchasing an additional 39,050 shares during the last quarter. Jump Financial LLC grew its holdings in VNET Group by 101.6% during 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 last quarter. Virtu Financial LLC grew its holdings in 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 valued at $293,000 after purchasing an additional 58,817 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in VNET Group during the 1st quarter valued at about $328,000. 72.83% of the stock is currently owned by 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.