11,739 Shares in VNET Group, Inc. (NASDAQ:VNET) Acquired by Wolverine Trading LLC

Wolverine Trading LLC acquired a new position in shares of VNET Group, Inc. (NASDAQ:VNET) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,739 shares of the information technology services provider’s stock, valued at approximately $46,000.

A number of other institutional investors have also added to or reduced their stakes in VNET. Millennium Management LLC increased its position in VNET Group by 89.1% during the 2nd quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock worth $6,229,000 after purchasing an additional 1,400,683 shares in the last quarter. Inspire Investing LLC acquired a new position in VNET Group during the 3rd quarter worth approximately $1,092,000. WT Asset Management Ltd acquired a new position in VNET Group during the 3rd quarter worth approximately $326,000. GSA Capital Partners LLP increased its position in VNET Group by 24.8% during 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 purchasing an additional 73,311 shares in the last quarter. Finally, Creative Planning increased its position in VNET Group by 124.1% during the 3rd quarter. Creative Planning now owns 117,139 shares of the information technology services provider’s stock worth $478,000 after purchasing an additional 64,866 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Trading Up 2.1 %

NASDAQ:VNET opened at $3.94 on Wednesday. The firm’s fifty day moving average is $3.72 and its 200-day moving average is $2.90. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. VNET Group, Inc. has a 52 week low of $1.39 and a 52 week high of $4.50. The firm has a market cap of $1.01 billion, a P/E ratio of -1.77 and a beta of -0.19.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. HSBC upgraded shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price target for the company in a research report on Wednesday, October 9th. Citigroup assumed coverage on shares of VNET Group in a research report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price target for the company. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $3.10 to $5.00 in a research report on Friday, November 29th. Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, VNET Group currently has an average rating of “Buy” and a consensus target price of $4.78.

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.