MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Position in VNET Group, Inc. (NASDAQ:VNET)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,145,529 shares of the information technology services provider's stock after purchasing an additional 93,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.83% of VNET Group worth $10,170,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of VNET. Barclays PLC raised its position in shares of 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 acquiring an additional 4,939 shares in the last quarter. Catalina Capital Group LLC bought a new position in shares of VNET Group in the 4th quarter worth about $54,000. Hsbc Holdings PLC bought a new position in shares of VNET Group in the 4th quarter worth about $66,000. Tower Research Capital LLC TRC bought a new position in shares of VNET Group in the 4th quarter worth about $80,000. Finally, Cetera Investment Advisers bought a new stake in VNET Group in the 4th quarter valued at about $102,000. 72.83% of the stock is owned by institutional investors.

VNET Group Stock Down 4.6%

VNET traded down $0.30 during midday trading on Thursday, reaching $6.19. 1,532,202 shares of the company were exchanged, compared to its average volume of 4,487,507. 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 company's fifty day moving average price is $6.76 and its 200 day moving average price is $6.73. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -2.80, a price-to-earnings-growth ratio of 1.01 and a beta of 0.14. VNET Group, Inc. has a one year low of $1.71 and a one year high of $16.13.

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

Analyst Ratings Changes

A number of analysts recently commented on VNET shares. Nomura Securities raised VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. Citigroup boosted 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. Finally, Wall Street Zen lowered VNET Group from a "hold" rating to a "sell" rating in a research report on Tuesday, May 6th. One 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. Based on data from MarketBeat.com, VNET Group currently has a consensus rating of "Buy" and a consensus 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.