VNET Group (NASDAQ:VNET) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of VNET Group (NASDAQ:VNET) from a sell rating to a hold rating in a research report released on Saturday.

VNET Group Stock Performance

NASDAQ VNET opened at $2.16 on Friday. VNET Group has a 52-week low of $1.39 and a 52-week high of $3.88. The company has a 50-day simple moving average of $2.13 and a 200 day simple moving average of $1.90. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $555.98 million, a PE ratio of -0.82 and a beta of -0.35.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, May 29th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). The company had revenue of $262.89 million for the quarter, compared to analysts’ expectations of $258.78 million. VNET Group had a negative return on equity of 15.69% and a negative net margin of 39.32%.

Hedge Funds Weigh In On VNET Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maso Capital Partners Ltd boosted its position in VNET Group by 15.6% during the first quarter. Maso Capital Partners Ltd now owns 1,853,771 shares of the information technology services provider’s stock worth $2,873,000 after purchasing an additional 250,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in VNET Group by 14.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,525,707 shares of the information technology services provider’s stock worth $4,379,000 after purchasing an additional 188,593 shares during the period. Pacer Advisors Inc. bought a new position in VNET Group during the fourth quarter worth about $2,021,000. AI Squared Management Ltd bought a new position in VNET Group during the fourth quarter worth about $893,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in VNET Group during the first quarter worth about $328,000. Institutional investors own 72.83% of the company’s stock.

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.