Asset Management One Co. Ltd. Acquires Shares of 32,008 VNET Group, Inc. (NASDAQ:VNET)

Asset Management One Co. Ltd. acquired a new stake in shares of VNET Group, Inc. (NASDAQ:VNET) in the fourth quarter, Holdings Channel.com reports. The firm acquired 32,008 shares of the information technology services provider’s stock, valued at approximately $152,000.

Other institutional investors have also modified their holdings of the company. Catalina Capital Group LLC purchased a new position in shares of VNET Group during the 4th quarter valued at about $54,000. Wolverine Trading LLC acquired a new stake in shares of VNET Group during the 3rd quarter valued at about $46,000. Walleye Capital LLC acquired a new stake in shares of VNET Group during the 3rd quarter valued at about $115,000. Blue Trust Inc. grew its position in shares of VNET Group by 785.4% during the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock valued at $172,000 after acquiring an additional 37,322 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of VNET Group during the 3rd quarter valued at about $191,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Trading Down 0.6 %

VNET stock opened at $14.59 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. VNET Group, Inc. has a 12-month low of $1.42 and a 12-month high of $16.13. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of -6.57, a PEG ratio of 0.90 and a beta of -0.18. The business’s 50-day moving average is $6.95 and its 200 day moving average is $4.54.

Analysts Set New Price Targets

VNET has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $3.10 to $5.00 in a research report on Friday, November 29th. UBS Group raised their target price on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $4.78.

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.