Sig Brokerage LP Takes $270,000 Position in VNET Group, Inc. (NASDAQ:VNET)

Sig Brokerage LP purchased a new position in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 56,984 shares of the information technology services provider's stock, valued at approximately $270,000.

Several other institutional investors also recently bought and sold shares of VNET. Barclays PLC lifted its holdings in VNET Group by 229.3% during 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. Point72 Asia Singapore Pte. Ltd. acquired a new stake in VNET Group in the 4th quarter worth about $41,000. Catalina Capital Group LLC acquired a new position in shares of VNET Group during the fourth quarter valued at approximately $54,000. Hsbc Holdings PLC purchased a new position in shares of VNET Group in the fourth quarter worth about $66,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of VNET Group during the 4th quarter worth approximately $80,000. 72.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup increased their price target on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday, March 14th. StockNews.com cut VNET Group from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Finally, Nomura Securities upgraded VNET Group to a "strong-buy" rating in a report on Friday, February 21st. One investment 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. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $9.30.

VNET Group Trading Up 4.8%

VNET Group stock traded up $0.30 during mid-day trading on Wednesday, hitting $6.52. The company's stock had a trading volume of 3,608,703 shares, compared to its average volume of 4,479,485. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $1.75 billion, a PE ratio of -2.94, a price-to-earnings-growth ratio of 1.01 and a beta of 0.14. The stock's fifty day moving average is $6.86 and its two-hundred day moving average is $6.73. VNET Group, Inc. has a 1 year low of $1.71 and a 1 year high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $307.75 million for the quarter, compared to analysts' expectations of $284.88 million. On average, analysts anticipate that VNET Group, Inc. will post -0.06 EPS 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.