VNET Group, Inc. (NASDAQ:VNET) Shares Sold by MY.Alpha Management HK Advisors Ltd

MY.Alpha Management HK Advisors Ltd trimmed its holdings in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,398,227 shares of the information technology services provider's stock after selling 1,338,571 shares during the period. VNET Group comprises 7.1% of MY.Alpha Management HK Advisors Ltd's investment portfolio, making the stock its 7th largest position. MY.Alpha Management HK Advisors Ltd owned 1.32% of VNET Group worth $16,108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 4,939 shares in the last quarter. Catalina Capital Group LLC acquired a new position in shares of VNET Group during the fourth quarter worth $54,000. Hsbc Holdings PLC purchased a new position in shares of VNET Group in the fourth quarter valued at $66,000. Tower Research Capital LLC TRC acquired a new stake in VNET Group during the 4th quarter valued at $80,000. Finally, Cetera Investment Advisers purchased a new stake in VNET Group during the 4th quarter worth $102,000. 72.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VNET. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. StockNews.com downgraded VNET Group from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Finally, Citigroup raised their price objective on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $9.30.

VNET Group Stock Performance

Shares of VNET stock opened at $6.39 on Wednesday. The company's 50-day simple moving average is $7.36 and its 200-day simple moving average is $6.63. VNET Group, Inc. has a one year low of $1.71 and a one year high of $16.13. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -2.88, a PEG ratio of 1.01 and a beta of 0.14. 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 announced its quarterly earnings data 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 firm had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. Equities analysts anticipate that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

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.

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