VNET Group (NASDAQ:VNET) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of VNET Group (NASDAQ:VNET) from a sell rating to a hold rating in a report released on Thursday.

VNET Group Stock Performance

Shares of NASDAQ VNET traded up $0.21 during trading hours on Thursday, reaching $2.05. The stock had a trading volume of 931,721 shares, compared to its average volume of 1,436,841. The company has a market cap of $527.67 million, a price-to-earnings ratio of -0.78 and a beta of -0.35. VNET Group has a twelve month low of $1.39 and a twelve month high of $3.88. The business’s fifty day moving average is $2.13 and its two-hundred day moving average is $1.86. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Wednesday, May 29th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). VNET Group had a negative net margin of 39.32% and a negative return on equity of 15.69%. The business had revenue of $262.89 million during the quarter, compared to analyst estimates of $258.78 million.

Institutional Trading of VNET Group

Institutional investors have recently bought and sold shares of the stock. Catalina Capital Group LLC bought a new position in shares of VNET Group during the first quarter valued at $26,000. Ballentine Partners LLC bought a new stake in VNET Group during the second quarter worth about $36,000. Headlands Technologies LLC increased its holdings in shares of VNET Group by 1,199.7% during the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after buying an additional 39,050 shares in the last quarter. Jump Financial LLC raised its stake in shares of VNET Group by 101.6% in the fourth quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock valued at $242,000 after acquiring an additional 42,537 shares during the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of VNET Group by 135.9% in the 4th quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock worth $293,000 after acquiring an additional 58,817 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

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.