28,236 Shares in VNET Group, Inc. (NASDAQ:VNET) Acquired by Walleye Capital LLC

Walleye Capital LLC bought a new position in VNET Group, Inc. (NASDAQ:VNET) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,236 shares of the information technology services provider’s stock, valued at approximately $115,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in VNET Group in the 3rd quarter worth approximately $199,000. GSA Capital Partners LLP increased its position in VNET Group by 24.8% in the 3rd quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider’s stock worth $1,506,000 after buying an additional 73,311 shares during the period. WT Asset Management Ltd bought a new position in VNET Group in the 3rd quarter worth approximately $326,000. Blue Trust Inc. increased its position in VNET Group by 785.4% in the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock worth $172,000 after buying an additional 37,322 shares during the period. Finally, Creative Planning increased its position in VNET Group by 124.1% in the 3rd quarter. Creative Planning now owns 117,139 shares of the information technology services provider’s stock worth $478,000 after buying an additional 64,866 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Price Performance

Shares of VNET stock opened at $4.11 on Friday. The stock’s fifty day simple moving average is $3.73 and its 200 day simple moving average is $2.86. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -1.85 and a beta of -0.19. VNET Group, Inc. has a one year low of $1.39 and a one year high of $4.50.

Analysts Set New Price Targets

VNET has been the topic of several recent analyst reports. The Goldman Sachs Group raised VNET Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. UBS Group boosted their price objective on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective on the stock in a research report on Wednesday, October 9th. Citigroup initiated coverage on VNET Group in a research report on Wednesday, September 4th. They set a “buy” rating and a $4.00 price objective on the stock. Finally, Hsbc Global Res upgraded VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, VNET Group presently has an average rating of “Buy” and an average price target of $4.78.

VNET Group 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.