VNET Group (NASDAQ:VNET) Posts Earnings Results

VNET Group (NASDAQ:VNET) posted its quarterly earnings data on Monday. The information technology services provider reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04), reports. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. The company had revenue of $384.07 million during the quarter, compared to the consensus estimate of $368.64 million.

VNET Group Stock Performance

Shares of VNET opened at $10.51 on Monday. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50 day moving average is $11.10 and its 200-day moving average is $9.89. VNET Group has a 12-month low of $4.65 and a 12-month high of $14.48. The stock has a market capitalization of $2.83 billion, a P/E ratio of -35.03, a P/E/G ratio of 0.82 and a beta of 0.01.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.60.

Hedge Funds Weigh In On VNET Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in VNET Group in the 4th quarter worth about $157,000. Trexquant Investment LP acquired a new position in shares of VNET Group in the fourth quarter worth about $1,964,000. BTG Pactual Asset Management US LLC acquired a new position in shares of VNET Group in the fourth quarter worth about $254,000. Farallon Capital Management LLC increased its position in shares of VNET Group by 14.5% in the fourth quarter. Farallon Capital Management LLC now owns 6,285,386 shares of the information technology services provider’s stock worth $53,174,000 after acquiring an additional 796,266 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in VNET Group by 14.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 30,800 shares of the information technology services provider’s stock valued at $261,000 after purchasing an additional 3,900 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Company Profile

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.