Symmetry Investments LP Takes Position in VNET Group, Inc. (NASDAQ:VNET)

Symmetry Investments LP bought a new stake in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 571,290 shares of the information technology services provider's stock, valued at approximately $2,708,000. Symmetry Investments LP owned about 0.22% of VNET Group as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in VNET. JPMorgan Chase & Co. grew its position in shares of VNET Group by 622.8% during the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider's stock valued at $4,690,000 after acquiring an additional 852,519 shares during the period. HCEP Management Ltd purchased a new stake in VNET Group in the fourth quarter worth $2,491,000. American Century Companies Inc. lifted its position in shares of VNET Group by 20.4% during the 4th quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider's stock valued at $2,251,000 after buying an additional 80,516 shares during the last quarter. SG Americas Securities LLC grew its stake 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 worth $1,931,000 after acquiring an additional 343,140 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in VNET Group in the 4th quarter worth about $1,811,000. Institutional investors own 72.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on VNET shares. Citigroup raised their price objective on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 14th. StockNews.com cut shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Finally, Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, VNET Group presently has an average rating of "Buy" and a consensus target price of $9.30.

VNET Group Price Performance

Shares of VNET Group stock traded down $0.02 on Monday, hitting $5.37. 1,229,967 shares of the company traded hands, compared to its average volume of 4,093,471. VNET Group, Inc. has a 12-month low of $1.58 and a 12-month high of $16.13. 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 company has a market cap of $1.38 billion, a P/E ratio of -2.41, a P/E/G ratio of 1.01 and a beta of 0.15. The firm's 50-day simple moving average is $8.85 and its 200 day simple moving average is $6.42.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly 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 business had revenue of $307.75 million for the quarter, compared to analysts' expectations of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. Analysts expect that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

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.