304,725 Shares in VNET Group, Inc. (NASDAQ:VNET) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new stake in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 304,725 shares of the information technology services provider's stock, valued at approximately $1,444,000. Cubist Systematic Strategies LLC owned approximately 0.12% of VNET Group at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Barclays PLC increased 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 purchasing an additional 4,939 shares during the last quarter. Catalina Capital Group LLC bought a new position in VNET Group during the fourth quarter valued at $54,000. Hsbc Holdings PLC bought a new position in shares of VNET Group in the fourth quarter worth about $66,000. Tower Research Capital LLC TRC bought a new position in shares of VNET Group in the fourth quarter worth about $80,000. Finally, Cetera Investment Advisers bought a new position in shares of VNET Group in the fourth quarter worth about $102,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

VNET Group Stock Up 21.3%

Shares of NASDAQ:VNET opened at $7.23 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $1.86 billion, a PE ratio of -3.26, a price-to-earnings-growth ratio of 1.01 and a beta of 0.14. The firm's 50-day moving average is $7.47 and its two-hundred day moving average is $6.64. VNET Group, Inc. has a 1 year low of $1.71 and a 1 year high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last released 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). The firm had revenue of $307.75 million for the quarter, compared to analysts' expectations of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. Analysts predict that VNET Group, Inc. will post -0.06 EPS for the current year.

Analysts Set New Price Targets

VNET has been the topic of several recent research reports. Citigroup increased their target price on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 14th. StockNews.com cut shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Finally, Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $9.30.

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.

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