VNET Group (NASDAQ:VNET) Sees Strong Trading Volume

Shares of VNET Group, Inc. (NASDAQ:VNET) saw strong trading volume on Monday . 1,764,773 shares were traded during trading, an increase of 18% from the previous session’s volume of 1,498,612 shares.The stock last traded at $4.23 and had previously closed at $3.96.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup assumed coverage on VNET Group in a research note on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price objective 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.

VNET Group Price Performance

The business has a 50 day simple moving average of $2.43 and a two-hundred day simple moving average of $2.12. The firm has a market capitalization of $1.05 billion, a P/E ratio of -1.59, a price-to-earnings-growth ratio of 8.20 and a beta of -0.32. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.87 and a current ratio of 0.87.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Catalina Capital Group LLC bought a new position in shares of VNET Group in the 1st quarter worth about $26,000. Ballentine Partners LLC purchased a new position in shares of VNET Group during the second quarter valued at approximately $36,000. AXA S.A. purchased a new stake in shares of VNET Group in the 2nd quarter worth approximately $65,000. Headlands Technologies LLC increased its position in 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 in the last quarter. Finally, Virtu Financial LLC raised its stake in VNET Group by 135.9% during the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock valued at $293,000 after buying an additional 58,817 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

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.