Susquehanna Fundamental Investments LLC Takes Position in VNET Group, Inc. (NASDAQ:VNET)

Susquehanna Fundamental Investments LLC acquired a new stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 211,702 shares of the information technology services provider's stock, valued at approximately $1,003,000. Susquehanna Fundamental Investments LLC owned about 0.08% of VNET Group at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Barclays PLC grew its position 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 during the period. Catalina Capital Group LLC acquired a new stake in VNET Group in the 4th quarter worth about $54,000. Hsbc Holdings PLC purchased a new stake in VNET Group in the 4th quarter valued at about $66,000. Tower Research Capital LLC TRC acquired a new position in shares of VNET Group during the 4th quarter valued at about $80,000. Finally, Wedbush Securities Inc. purchased a new position in shares of VNET Group during the 4th quarter worth about $127,000. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Trading Down 1.7 %

Shares of VNET stock traded down $0.12 during mid-day trading on Monday, reaching $6.96. The company's stock had a trading volume of 4,610,174 shares, compared to its average volume of 4,216,830. 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 has a market capitalization of $1.79 billion, a PE ratio of -3.14, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15. The company's 50 day simple moving average is $8.08 and its 200-day simple moving average is $6.51. VNET Group, Inc. has a 12-month low of $1.71 and a 12-month high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings data 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). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The company had revenue of $307.75 million during the quarter, compared to analysts' expectations of $284.88 million. On average, research analysts predict that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on VNET shares. Citigroup boosted their target price 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. StockNews.com raised shares of VNET Group from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Nomura Securities upgraded VNET Group to a "strong-buy" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock 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.