MY.Alpha Management HK Advisors Ltd Sells 1,338,571 Shares of VNET Group, Inc. (NASDAQ:VNET)

MY.Alpha Management HK Advisors Ltd trimmed its stake in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) by 28.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,398,227 shares of the information technology services provider's stock after selling 1,338,571 shares during the quarter. VNET Group makes up 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 approximately 1.32% of VNET Group worth $16,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Barclays PLC increased its position 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 acquiring an additional 4,939 shares during the last quarter. Catalina Capital Group LLC bought a new position in shares of VNET Group during the 4th quarter valued at approximately $54,000. Hsbc Holdings PLC bought a new position in shares of VNET Group during the 4th quarter valued at approximately $66,000. Tower Research Capital LLC TRC bought a new stake in VNET Group in the fourth quarter worth $80,000. Finally, Cetera Investment Advisers bought a new stake in VNET Group in the fourth quarter worth $102,000. 72.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on VNET. StockNews.com lowered VNET Group from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Citigroup boosted their price objective on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Finally, Nomura Securities raised VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. One investment 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 stock. Based on data from MarketBeat.com, VNET Group presently has a consensus rating of "Buy" and an average target price of $9.30.

VNET Group Trading Down 2.6%

NASDAQ:VNET traded down $0.17 on Monday, hitting $6.27. 1,188,909 shares of the stock were exchanged, compared to its average volume of 4,465,401. The stock has a market cap of $1.61 billion, a PE ratio of -2.82, a PEG ratio of 1.01 and a beta of 0.14. 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 stock has a fifty day moving average of $7.04 and a 200-day moving average of $6.71. VNET Group, Inc. has a fifty-two week low of $1.71 and a fifty-two week high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). The business had revenue of $307.75 million during the quarter, compared to analysts' expectations of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. As a group, equities 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.