VNET Group, Inc. (NASDAQ:VNET) Stock Holdings Lifted by Headlands Technologies LLC

Headlands Technologies LLC increased its holdings in VNET Group, Inc. (NASDAQ:VNET) by 5.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 144,499 shares of the information technology services provider’s stock after buying an additional 7,737 shares during the period. Headlands Technologies LLC’s holdings in VNET Group were worth $685,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new position in shares of VNET Group during the fourth quarter valued at approximately $1,811,000. Norges Bank bought a new stake in VNET Group in the fourth quarter valued at $1,708,000. JPMorgan Chase & Co. lifted its position in VNET Group by 622.8% in the 4th quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider’s stock valued at $4,690,000 after purchasing an additional 852,519 shares during the last quarter. American Century Companies Inc. grew its position in VNET Group by 20.4% in the 4th quarter. American Century Companies Inc. now owns 474,929 shares of the information technology services provider’s stock worth $2,251,000 after purchasing an additional 80,516 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in VNET Group by 472.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 278,801 shares of the information technology services provider’s stock worth $1,322,000 after buying an additional 230,068 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Nomura Securities upgraded shares of VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. Citigroup lifted their price target 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, StockNews.com cut VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $9.30.

VNET Group Price Performance

NASDAQ VNET opened at $8.12 on Thursday. VNET Group, Inc. has a 1 year low of $1.42 and a 1 year high of $16.13. The business’s fifty day moving average is $10.11 and its two-hundred day moving average is $6.17. The stock has a market capitalization of $2.09 billion, a P/E ratio of -3.66, a P/E/G ratio of 1.01 and a beta of 0.07. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

VNET Group (NASDAQ:VNET) last announced its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The company had revenue of $307.75 million for the quarter, compared to analyst estimates of $284.88 million. On average, research analysts forecast that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

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.