VNET Group (NASDAQ:VNET – Get Free Report) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.
Separately, Bank of America upgraded VNET Group from a “neutral” rating to a “buy” rating and decreased their price target for the company from $3.90 to $2.70 in a report on Tuesday, March 19th.
Check Out Our Latest Analysis on VNET
VNET Group Stock Performance
VNET Group (NASDAQ:VNET – Get Free Report) 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). VNET Group had a negative return on equity of 15.69% and a negative net margin of 39.32%. The company had revenue of $262.89 million during the quarter, compared to analysts’ expectations of $258.78 million.
Institutional Trading of VNET Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Maso Capital Partners Ltd lifted its position in shares of VNET Group by 15.6% during the first quarter. Maso Capital Partners Ltd now owns 1,853,771 shares of the information technology services provider’s stock worth $2,873,000 after purchasing an additional 250,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in VNET Group by 14.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,525,707 shares of the information technology services provider’s stock valued at $4,379,000 after buying an additional 188,593 shares during the period. Pacer Advisors Inc. bought a new position in VNET Group in the 4th quarter worth about $2,021,000. AI Squared Management Ltd purchased a new position in shares of VNET Group during the fourth quarter worth approximately $893,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of VNET Group during the first quarter valued at approximately $328,000. 72.83% of the stock is owned by hedge funds and other 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.
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