Two Sigma Investments LP Takes Position in VNET Group, Inc. (NASDAQ:VNET)

Two Sigma Investments LP acquired a new stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 614,130 shares of the information technology services provider's stock, valued at approximately $2,911,000. Two Sigma Investments LP owned approximately 0.24% of VNET Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of VNET Group in the fourth quarter valued at approximately $41,000. Catalina Capital Group LLC acquired a new position in shares of VNET Group in the fourth quarter valued at approximately $54,000. Hsbc Holdings PLC acquired a new position in shares of VNET Group in the fourth quarter valued at approximately $66,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of VNET Group in the fourth quarter valued at approximately $80,000. Institutional investors and hedge funds own 72.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday, March 14th. Wall Street Zen downgraded 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 investment 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 stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $9.30.

VNET Group Stock Up 5.1%

Shares of NASDAQ:VNET traded up $0.28 during trading on Wednesday, hitting $5.82. 4,082,789 shares of the company were exchanged, compared to its average volume of 4,626,721. The stock has a market capitalization of $1.57 billion, a P/E ratio of -2.62, a PEG ratio of 1.01 and a beta of 0.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. VNET Group, Inc. has a 12-month low of $1.71 and a 12-month high of $16.13. The firm's 50 day moving average price is $6.03 and its 200-day moving average price is $6.88.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $309.52 million for the quarter, compared to analysts' expectations of $2.22 billion. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. During the same quarter in the prior year, the firm posted ($0.28) EPS. On average, research analysts predict that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

About VNET Group

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.