VNET Group, Inc. (NASDAQ:VNET – Get Free Report) was down 3.9% during trading on Monday . The stock traded as low as $1.96 and last traded at $1.97. Approximately 15,748 shares traded hands during trading, a decline of 99% from the average daily volume of 1,427,615 shares. The stock had previously closed at $2.05.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised VNET Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.
View Our Latest Research Report on VNET Group
VNET Group Trading Down 1.3 %
VNET Group (NASDAQ:VNET – Get Free Report) last issued its earnings results on Wednesday, May 29th. The information technology services provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). The firm had revenue of $262.89 million during the quarter, compared to the consensus estimate of $258.78 million. VNET Group had a negative net margin of 39.32% and a negative return on equity of 15.69%.
Institutional Trading of VNET Group
A number of hedge funds and other institutional investors have recently bought and sold shares of VNET. Mirae Asset Global Investments Co. Ltd. increased its position in shares of VNET Group by 14.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,525,707 shares of the information technology services provider’s stock worth $4,379,000 after acquiring an additional 188,593 shares in the last quarter. AI Squared Management Ltd acquired a new position in VNET Group during the 4th quarter valued at about $893,000. Jump Financial LLC increased its holdings in VNET Group by 101.6% during the 4th quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock worth $242,000 after purchasing an additional 42,537 shares in the last quarter. Virtu Financial LLC raised its stake in shares of VNET Group by 135.9% in the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock worth $293,000 after purchasing an additional 58,817 shares during the last quarter. Finally, Catalina Capital Group LLC bought a new position in shares of VNET Group in the first quarter valued at approximately $26,000. Institutional investors 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.
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