Sig Brokerage LP Takes Position in VNET Group, Inc. (NASDAQ:VNET)

Sig Brokerage LP purchased a new stake in shares of VNET Group, Inc. (NASDAQ:VNET) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 56,984 shares of the information technology services provider’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 4,939 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of VNET Group by 5.7% in the 4th quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after acquiring an additional 7,737 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in VNET Group during the 4th quarter worth approximately $41,000. Catalina Capital Group LLC acquired a new stake in VNET Group during the 4th quarter worth approximately $54,000. Finally, Blue Trust Inc. lifted its holdings in VNET Group by 29.1% during the 4th quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock worth $257,000 after buying an additional 12,237 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Trading Down 3.9%

NASDAQ VNET opened at $5.99 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The firm’s fifty day moving average price is $7.15 and its 200 day moving average price is $6.65. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -2.70, a price-to-earnings-growth ratio of 1.01 and a beta of 0.14. VNET Group, Inc. has a 12 month low of $1.71 and a 12 month high of $16.13.

VNET Group (NASDAQ:VNET) last posted its 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 company 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%. On average, sell-side analysts expect that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VNET shares. Citigroup increased their target price on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a report on Friday, February 21st. Finally, StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, VNET Group has a consensus rating of “Buy” and a consensus price target of $9.30.

VNET Group 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.