Peak6 LLC Takes $474,000 Position in VNET Group, Inc. (NASDAQ:VNET)

PEAK6 LLC acquired a new position in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 100,000 shares of the information technology services provider's stock, valued at approximately $474,000.

Other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of VNET Group during the third quarter worth about $191,000. Geode Capital Management LLC lifted its holdings in VNET Group by 237.7% during the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider's stock worth $1,218,000 after buying an additional 210,124 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of VNET Group in the 3rd quarter worth approximately $519,000. JPMorgan Chase & Co. increased its holdings in shares of VNET Group by 136,783.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider's stock valued at $558,000 after acquiring an additional 136,783 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of VNET Group by 534.6% during the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider's stock valued at $1,931,000 after acquiring an additional 343,140 shares in the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Stock Performance

Shares of VNET traded down $0.04 during midday trading on Friday, hitting $5.38. 3,201,394 shares of the stock traded hands, compared to its average volume of 4,093,849. VNET Group, Inc. has a 1-year low of $1.51 and a 1-year high of $16.13. The firm has a market capitalization of $1.38 billion, a PE ratio of -2.42, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15. The business's 50 day moving average price is $8.85 and its two-hundred day moving average price is $6.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

VNET Group (NASDAQ:VNET - Get Free Report) last released 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 the consensus estimate of $284.88 million. Equities research analysts predict that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Citigroup lifted their price target on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday, March 14th. Finally, Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. One 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's stock. Based on data from MarketBeat.com, VNET Group has a consensus rating of "Buy" and an average price target of $9.30.

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.