BNP Paribas Financial Markets Buys 94,524 Shares of VNET Group, Inc. (NASDAQ:VNET)

BNP Paribas Financial Markets boosted its holdings in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) by 1,290.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,847 shares of the information technology services provider's stock after acquiring an additional 94,524 shares during the period. BNP Paribas Financial Markets' holdings in VNET Group were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted 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. Catalina Capital Group LLC bought a new stake in shares of VNET Group in the fourth quarter valued at about $54,000. Hsbc Holdings PLC bought a new stake in shares of VNET Group in the fourth quarter valued at about $66,000. Tower Research Capital LLC TRC bought a new stake in shares of VNET Group in the fourth quarter valued at about $80,000. Finally, Wedbush Securities Inc. bought a new stake in shares of VNET Group in the fourth quarter valued at about $127,000. 72.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VNET. Nomura Securities raised VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. Wall Street Zen downgraded VNET Group from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. Finally, Citigroup lifted their target price on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $9.30.

VNET Group Trading Down 12.2%

VNET Group stock traded down $0.74 during trading hours on Wednesday, reaching $5.31. 7,354,422 shares of the company's stock were exchanged, compared to its average volume of 4,558,527. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm's 50 day simple moving average is $6.42 and its 200 day simple moving average is $6.82. VNET Group, Inc. has a twelve month low of $1.71 and a twelve month high of $16.13. The firm has a market capitalization of $1.43 billion, a PE ratio of -2.40, a PEG ratio of 1.01 and a beta of 0.14.

VNET Group (NASDAQ:VNET - Get Free Report) last issued 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 firm had revenue of $307.75 million during 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%. Research analysts predict 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.