VNET Group (NASDAQ:VNET) Trading Down 3.9%

Shares of VNET Group, Inc. (NASDAQ:VNET) were down 3.9% during trading on Monday . The company traded as low as $1.96 and last traded at $1.97. Approximately 15,748 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 1,427,615 shares. The stock had previously closed at $2.05.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a report on Thursday.

VNET Group Price Performance

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 stock has a market cap of $483.91 million, a PE ratio of -0.71 and a beta of -0.35. The stock’s 50-day moving average is $2.13 and its two-hundred day moving average is $1.86.

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

Institutional Investors Weigh In On VNET Group

Several institutional investors have recently modified their holdings of VNET. Catalina Capital Group LLC purchased a new stake in VNET Group in the first quarter valued at $26,000. Ballentine Partners LLC purchased a new stake in shares of VNET Group in the second quarter valued at about $36,000. Headlands Technologies LLC raised its holdings in shares of VNET Group by 1,199.7% in the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock valued at $66,000 after buying an additional 39,050 shares during the last quarter. Jump Financial LLC raised its holdings in shares of VNET Group by 101.6% in the fourth quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock valued at $242,000 after buying an additional 42,537 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of VNET Group by 135.9% in the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock valued at $293,000 after buying an additional 58,817 shares during the last quarter. 72.83% of the stock is owned by hedge funds and other institutional investors.

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.