9,995,082 Shares in VNET Group, Inc. (NASDAQ:VNET) Purchased by Triata Capital Ltd

Triata Capital Ltd bought a new stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,995,082 shares of the information technology services provider's stock, valued at approximately $47,377,000. VNET Group accounts for about 19.6% of Triata Capital Ltd's investment portfolio, making the stock its 2nd biggest holding. Triata Capital Ltd owned 3.88% of VNET Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sig Brokerage LP acquired a new position in shares of VNET Group in the 4th quarter valued at approximately $270,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of VNET Group in the fourth quarter worth $41,000. Point72 Asset Management L.P. bought a new stake in shares of VNET Group in the fourth quarter worth $2,019,000. Man Group plc acquired a new stake in VNET Group in the fourth quarter valued at $5,094,000. Finally, Millennium Management LLC boosted its stake in VNET Group by 3.4% during the 4th quarter. Millennium Management LLC now owns 5,578,371 shares of the information technology services provider's stock valued at $26,441,000 after acquiring an additional 181,749 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company's stock.

Wall Street Analysts Forecast Growth

VNET has been the subject of several research analyst reports. Wall Street Zen downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Citigroup boosted their price target on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. One 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 data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $9.30.

VNET Group Price Performance

NASDAQ VNET traded down $0.05 on Friday, reaching $6.01. The company's stock had a trading volume of 1,144,363 shares, compared to its average volume of 4,498,463. VNET Group, Inc. has a twelve month low of $1.71 and a twelve month high of $16.13. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The firm's 50 day moving average is $6.65 and its two-hundred day moving average is $6.75. The stock has a market cap of $1.61 billion, a PE ratio of -2.70, a PEG ratio of 1.01 and a beta of 0.14.

VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The business had revenue of $307.75 million for the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. As a group, sell-side analysts predict that VNET Group, Inc. will post -0.06 EPS for the current year.

VNET Group Company 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.