VNET Group (NASDAQ:VNET) Sets New 52-Week High at $3.89

VNET Group, Inc. (NASDAQ:VNET) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $3.89 and last traded at $3.84, with a volume of 820847 shares traded. The stock had previously closed at $3.60.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Citigroup assumed coverage on VNET Group in a research note on Wednesday, September 4th. They set a “buy” rating and a $4.00 price target for the company.

VNET Group Trading Up 6.9 %

The company has a market cap of $990.99 million, a P/E ratio of -1.44, a price-to-earnings-growth ratio of 7.77 and a beta of -0.32. 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 firm’s 50-day moving average price is $2.39 and its 200-day moving average price is $2.10.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Tuesday, August 27th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. VNET Group had a negative return on equity of 11.44% and a negative net margin of 34.62%. The company had revenue of $274.35 million for the quarter, compared to analyst estimates of $266.56 million. As a group, equities research analysts expect that VNET Group, Inc. will post 0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VNET Group

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC increased its holdings in VNET Group by 135.9% during the 4th quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock worth $293,000 after acquiring an additional 58,817 shares during the period. Catalina Capital Group LLC purchased a new stake in shares of VNET Group in the first quarter worth $26,000. Susquehanna Fundamental Investments LLC purchased a new position in VNET Group during the first quarter worth about $328,000. Headlands Technologies LLC raised its holdings in shares of VNET Group by 1,199.7% in the 1st quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock valued at $66,000 after acquiring an additional 39,050 shares in the last quarter. Finally, Maso Capital Partners Ltd grew its holdings 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 in the last quarter. 72.83% of the stock is currently owned by institutional investors.

About VNET Group

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.