Cubist Systematic Strategies LLC Purchases Shares of 304,725 VNET Group, Inc. (NASDAQ:VNET)

Cubist Systematic Strategies LLC acquired a new stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 304,725 shares of the information technology services provider's stock, valued at approximately $1,444,000. Cubist Systematic Strategies LLC owned 0.12% of VNET Group as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new position in shares of VNET Group during the 4th quarter valued at $152,000. Hsbc Holdings PLC acquired a new stake in VNET Group in the 4th quarter worth $66,000. JPMorgan Chase & Co. grew its position in VNET Group by 136,783.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider's stock worth $558,000 after purchasing an additional 136,783 shares during the last quarter. Norges Bank acquired a new stake in VNET Group in the 4th quarter worth $1,708,000. Finally, Barclays PLC lifted its stake in VNET Group by 229.3% during 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 period. Institutional investors and hedge funds own 72.83% of the company's stock.

Analyst Ratings Changes

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

VNET Group Price Performance

Shares of VNET stock traded up $0.44 during trading hours on Friday, reaching $6.43. The company's stock had a trading volume of 4,747,937 shares, compared to its average volume of 4,478,207. The firm's 50 day simple moving average is $7.04 and its 200-day simple moving average is $6.71. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -2.90, a PEG ratio of 1.01 and a beta of 0.14. VNET Group, Inc. has a fifty-two week low of $1.71 and a fifty-two week high of $16.13. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. Sell-side analysts forecast that VNET Group, Inc. will post -0.06 earnings per share for the current 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.