Millennium Management LLC Has $26.44 Million Stake in VNET Group, Inc. (NASDAQ:VNET)

Millennium Management LLC grew its stake in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,578,371 shares of the information technology services provider's stock after buying an additional 181,749 shares during the period. Millennium Management LLC owned approximately 2.17% of VNET Group worth $26,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings 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 buying an additional 4,939 shares during the period. Catalina Capital Group LLC bought a new position in VNET Group in the 4th quarter valued at approximately $54,000. Hsbc Holdings PLC bought a new position in VNET Group during the 4th quarter valued at $66,000. Tower Research Capital LLC TRC bought a new position in shares of VNET Group during the fourth quarter valued at approximately $80,000. Finally, Cetera Investment Advisers purchased a new position in VNET Group during the 4th quarter valued at approximately $102,000. 72.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut VNET Group from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Finally, 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 research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, VNET Group has a consensus rating of "Buy" and a consensus price target of $9.30.

VNET Group Price Performance

Shares of NASDAQ VNET traded down $0.06 during midday trading on Friday, reaching $5.99. 2,100,586 shares of the stock traded hands, compared to its average volume of 4,530,613. The stock has a market capitalization of $1.61 billion, a PE ratio of -2.70, a P/E/G 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 one year low of $1.71 and a one year high of $16.13. The company's 50 day moving average is $6.55 and its 200 day moving average is $6.81.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly 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 business had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. On average, equities research analysts anticipate 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.