VNET Group (NASDAQ:VNET) Shares Up 5.1%

VNET Group, Inc. (NASDAQ:VNET) shares were up 5.1% during mid-day trading on Tuesday . The stock traded as high as $2.87 and last traded at $2.87. Approximately 182,765 shares were traded during trading, a decline of 87% from the average daily volume of 1,435,772 shares. The stock had previously closed at $2.73.

Analyst Ratings Changes

VNET has been the topic of a number of research reports. Citigroup began coverage on shares of VNET Group in a research note on Wednesday, September 4th. They issued a “buy” rating and a $4.00 target price on the stock. StockNews.com raised VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st.

VNET Group Price Performance

The business’s 50 day moving average price is $2.24 and its 200-day moving average price is $2.02. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. The company has a market cap of $769.63 million, a PE ratio of -1.13, a price-to-earnings-growth ratio of 5.66 and a beta of -0.32.

Institutional Investors Weigh In On VNET Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNET. Catalina Capital Group LLC acquired a new stake in VNET Group in the first quarter valued at $26,000. Ballentine Partners LLC acquired a new stake in shares of VNET Group during the 2nd quarter valued at approximately $36,000. AXA S.A. bought a new stake in VNET Group during the second quarter valued at $65,000. Headlands Technologies LLC grew its position 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 valued at $66,000 after buying an additional 39,050 shares during the last quarter. Finally, Jump Financial LLC increased its position in VNET Group by 101.6% in the fourth quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock worth $242,000 after buying an additional 42,537 shares during the period. Hedge funds and other institutional investors 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.