SG Americas Securities LLC increased its holdings in VNET Group, Inc. (NASDAQ:VNET – Free Report) by 534.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 407,327 shares of the information technology services provider’s stock after acquiring an additional 343,140 shares during the period. SG Americas Securities LLC owned about 0.16% of VNET Group worth $1,931,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of VNET. Wolverine Trading LLC bought a new stake in shares of VNET Group in the 3rd quarter worth approximately $46,000. AXA S.A. bought a new stake in shares of VNET Group in the second quarter valued at $65,000. Walleye Capital LLC purchased a new position in shares of VNET Group during the 3rd quarter valued at $115,000. Blue Trust Inc. increased its holdings in VNET Group by 785.4% in the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider’s stock worth $172,000 after acquiring an additional 37,322 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in VNET Group in the 3rd quarter valued at about $191,000. 72.83% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on VNET. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. Hsbc Global Res upgraded VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. UBS Group lifted their price target on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Finally, HSBC raised VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $4.78.
VNET Group Price Performance
Shares of NASDAQ VNET opened at $6.99 on Monday. The stock’s 50-day simple moving average is $4.57 and its two-hundred day simple moving average is $3.48. VNET Group, Inc. has a twelve month low of $1.39 and a twelve month high of $7.19. The firm has a market capitalization of $1.80 billion, a P/E ratio of -3.15, a P/E/G ratio of 0.55 and a beta of -0.24. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.
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.
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