16,974 Shares in VNET Group, Inc. (NASDAQ:VNET) Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC acquired a new stake in VNET Group, Inc. (NASDAQ:VNET) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 16,974 shares of the information technology services provider’s stock, valued at approximately $80,000.

Other hedge funds have also recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in shares of VNET Group during the fourth quarter valued at approximately $1,514,000. PEAK6 LLC purchased a new stake in shares of VNET Group during the 4th quarter valued at $474,000. Jump Financial LLC purchased a new stake in shares of VNET Group during the 4th quarter valued at $1,694,000. Barclays PLC raised its position in VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 4,939 shares during the period. Finally, Quinn Opportunity Partners LLC bought a new stake in shares of VNET Group in the 4th quarter worth approximately $200,000. Institutional investors own 72.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VNET shares. Nomura Securities upgraded VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup lifted their target price on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Finally, StockNews.com cut shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, VNET Group presently has an average rating of “Buy” and a consensus price target of $9.30.

VNET Group Trading Down 0.7 %

Shares of VNET opened at $5.96 on Friday. VNET Group, Inc. has a twelve month low of $1.71 and a twelve month high of $16.13. The stock has a market cap of $1.53 billion, a PE ratio of -2.68, a P/E/G ratio of 1.01 and a beta of 0.14. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The business’s 50-day moving average price is $7.58 and its 200-day moving average price is $6.59.

VNET Group (NASDAQ:VNET) last posted its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The firm had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. On average, equities analysts forecast that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

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.