StockNews.com Lowers VNET Group (NASDAQ:VNET) to Sell

VNET Group (NASDAQ:VNET) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

VNET Group Stock Performance

VNET Group stock traded up $0.23 during mid-day trading on Wednesday, hitting $2.07. The company had a trading volume of 1,743,084 shares, compared to its average volume of 1,478,564. The company has a market capitalization of $532.82 million, a price-to-earnings ratio of -0.78 and a beta of -0.35. VNET Group has a 12-month low of $1.39 and a 12-month high of $3.88. The company’s fifty day moving average is $2.13 and its 200-day moving average is $1.88. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42.

VNET Group (NASDAQ:VNET) last released its quarterly earnings results on Wednesday, May 29th. The information technology services provider reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.13). The firm had revenue of $262.89 million for the quarter, compared to analyst estimates 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

Several institutional investors have recently modified their holdings of the stock. Catalina Capital Group LLC acquired a new stake in shares of VNET Group in the first quarter valued at approximately $26,000. Headlands Technologies LLC raised its holdings in shares of 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 worth $66,000 after acquiring an additional 39,050 shares during the period. Jump Financial LLC boosted its position in shares of 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 acquiring an additional 42,537 shares during the last quarter. Virtu Financial LLC increased its position in VNET Group by 135.9% during the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock worth $293,000 after purchasing an additional 58,817 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in VNET Group during the first quarter worth about $328,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

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.