425,900 Shares in VNET Group, Inc. (NASDAQ:VNET) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in VNET Group, Inc. (NASDAQ:VNET) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 425,900 shares of the information technology services provider’s stock, valued at approximately $2,019,000. Point72 Asset Management L.P. owned about 0.17% of VNET Group as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Barclays PLC grew its position in VNET Group by 229.3% during the 4th 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 last quarter. Catalina Capital Group LLC purchased a new position in shares of VNET Group in the 4th quarter valued at approximately $54,000. Hsbc Holdings PLC purchased a new position in shares of VNET Group in the 4th quarter valued at approximately $66,000. Tower Research Capital LLC TRC purchased a new position in shares of VNET Group in the 4th quarter valued at approximately $80,000. Finally, Cetera Investment Advisers purchased a new position in shares of VNET Group in the 4th quarter valued at approximately $102,000. 72.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VNET. Citigroup raised their price objective on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Nomura Securities raised VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. Finally, StockNews.com lowered VNET Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $9.30.

VNET Group Stock Down 1.3%

VNET Group stock opened at $6.22 on Wednesday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -2.80, a PEG ratio of 1.01 and a beta of 0.14. The stock has a fifty day simple moving average of $6.86 and a two-hundred day simple moving average of $6.73. VNET Group, Inc. has a 12 month low of $1.71 and a 12 month high of $16.13. 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 (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $307.75 million for the quarter, compared to analysts’ expectations of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. Equities analysts predict that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

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.