Two Sigma Investments LP Acquires New Holdings in VNET Group, Inc. (NASDAQ:VNET)

Two Sigma Investments LP bought a new position in VNET Group, Inc. (NASDAQ:VNET - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 614,130 shares of the information technology services provider's stock, valued at approximately $2,911,000. Two Sigma Investments LP owned about 0.24% of VNET Group at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Barclays PLC boosted its position in VNET Group by 229.3% in the 4th 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in VNET Group during the fourth quarter valued at $41,000. Catalina Capital Group LLC acquired a new stake in shares of VNET Group in the fourth quarter valued at about $54,000. Hsbc Holdings PLC purchased a new position in VNET Group in the 4th quarter valued at about $66,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of VNET Group in the fourth quarter worth approximately $80,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

VNET Group Price Performance

Shares of VNET Group stock remained flat at $5.52 during trading on Tuesday. The company had a trading volume of 1,400,428 shares, compared to its average volume of 4,599,780. The business's 50-day simple moving average is $6.15 and its 200 day simple moving average is $6.90. The firm has a market capitalization of $1.48 billion, a P/E ratio of -2.49, a P/E/G ratio of 1.01 and a beta of 0.14. 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, Inc. has a 12-month low of $1.71 and a 12-month high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its earnings results 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 firm had revenue of $309.52 million during the quarter, compared to analyst estimates of $2.22 billion. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. During the same period last year, the company posted ($0.28) EPS. Research analysts predict that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VNET. Citigroup increased their price target on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Finally, Wall Street Zen downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $9.30.

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.