VNET Group (NASDAQ:VNET) Upgraded at StockNews.com

StockNews.com upgraded shares of VNET Group (NASDAQ:VNET) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

VNET Group Stock Up 11.4 %

Shares of NASDAQ:VNET opened at $2.05 on Thursday. The company has a market cap of $527.67 million, a price-to-earnings ratio of -0.78 and a beta of -0.35. VNET Group has a one year low of $1.39 and a one year high of $3.88. The firm has a fifty day moving average price of $2.13 and a two-hundred day moving average price of $1.86. 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 (NASDAQ:VNET) last released its earnings results on Wednesday, May 29th. The information technology services provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). The firm 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

Several large investors have recently modified their holdings of the business. Catalina Capital Group LLC bought a new stake in shares of VNET Group in the 1st quarter worth $26,000. Ballentine Partners LLC bought a new position in VNET Group during the second quarter valued at $36,000. Headlands Technologies LLC grew 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 worth $66,000 after purchasing an additional 39,050 shares in the last quarter. Jump Financial LLC increased its stake in shares of VNET Group by 101.6% during the fourth quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock valued at $242,000 after buying an additional 42,537 shares during the period. Finally, Virtu Financial LLC raised its holdings 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 in the last quarter. 72.83% of the stock is 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.