VNET Group (NASDAQ:VNET) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of VNET Group (NASDAQ:VNET – Get Rating) in a report released on Thursday. The brokerage issued a sell rating on the information technology services provider’s stock.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $3.24 on Thursday. VNET Group has a 52-week low of $2.90 and a 52-week high of $7.94. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.26 and a current ratio of 1.26. The business has a 50-day moving average price of $5.15 and a 200-day moving average price of $5.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in shares of VNET Group during the 2nd quarter worth about $29,000. Exchange Traded Concepts LLC boosted its position in shares of VNET Group by 71.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,512 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 2,295 shares during the period. Quadrant Capital Group LLC boosted its position in shares of VNET Group by 191.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 9,710 shares of the information technology services provider’s stock valued at $53,000 after purchasing an additional 6,376 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of VNET Group in the 2nd quarter valued at about $81,000. Finally, Profund Advisors LLC acquired a new stake in shares of VNET Group in the 4th quarter valued at about $77,000.

VNET Group Company Profile

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VNET Group, Inc is a holding company, which engages in the provision of carrier-neutral internet data center services. Its services include interconnectivity, colocation or data center managed hosting services, and cloud services. The company was founded by Sheng Chen and Jun Zhang on October 16, 1999 and is headquartered in Beijing, China.