D. E. Shaw & Co. Inc. Invests $7.18 Million in VNET Group, Inc. (NASDAQ:VNET)

D. E. Shaw & Co. Inc. acquired a new position in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,515,401 shares of the information technology services provider's stock, valued at approximately $7,183,000. D. E. Shaw & Co. Inc. owned approximately 0.59% of VNET Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in VNET Group by 136,783.0% in the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider's stock worth $558,000 after acquiring an additional 136,783 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of VNET Group by 534.6% during the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider's stock worth $1,931,000 after acquiring an additional 343,140 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of VNET Group by 29.1% during the 4th quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider's stock valued at $257,000 after acquiring an additional 12,237 shares during the last quarter. Catalina Capital Group LLC bought a new position in shares of VNET Group in the 4th quarter valued at approximately $54,000. Finally, Asset Management One Co. Ltd. acquired a new stake in VNET Group in the 4th quarter worth approximately $152,000. Institutional investors and hedge funds own 72.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VNET shares. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Citigroup lifted 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. Finally, StockNews.com cut shares of VNET Group from a "hold" rating to a "sell" rating in a 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 company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $9.30.

VNET Group Stock Up 4.6%

VNET traded up $0.29 during trading on Wednesday, reaching $6.51. The company had a trading volume of 1,372,466 shares, compared to its average volume of 4,471,078. The company has a market cap of $1.75 billion, a P/E ratio of -2.93, a PEG ratio of 1.01 and a beta of 0.14. VNET Group, Inc. has a 12 month low of $1.71 and a 12 month high of $16.13. 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 business's fifty day moving average price is $6.86 and its 200 day moving average price is $6.73.

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 the consensus estimate of $0.03 by ($0.04). The firm had revenue of $307.75 million during the quarter, compared to the consensus estimate 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 anticipate that VNET Group, Inc. will post -0.06 EPS 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.