VNET Group, Inc. (NASDAQ:VNET – Get Free Report)’s share price fell 2.9% on Monday . The stock traded as low as $2.02 and last traded at $2.04. 50,108 shares were traded during trading, a decline of 96% from the average session volume of 1,381,995 shares. The stock had previously closed at $2.10.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st.
Get Our Latest Research Report on VNET
VNET Group Price Performance
VNET Group (NASDAQ:VNET – Get Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The information technology services provider reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.13). The company had revenue of $262.89 million during the quarter, compared to the consensus estimate of $258.78 million. VNET Group had a negative net margin of 39.32% and a negative return on equity of 15.69%.
Institutional Trading of VNET Group
Several institutional investors have recently added to or reduced their stakes in the company. Catalina Capital Group LLC acquired a new position in shares of VNET Group in the first quarter valued at about $26,000. Ballentine Partners LLC acquired a new position in shares of VNET Group during the 2nd quarter worth approximately $36,000. AXA S.A. bought a new position in shares of VNET Group during the second quarter worth approximately $65,000. Headlands Technologies LLC boosted its stake 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 period. Finally, Jump Financial LLC grew its position in VNET Group by 101.6% during the fourth quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock worth $242,000 after buying an additional 42,537 shares in the last quarter. 72.83% of the stock is currently owned by 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.
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