1 week Ago By ABMN Staff
Norges Bank bought a new stake in VNET Group, Inc. ( NASDAQ:VNET – Free Report ) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 360,272 shares of the information technology services provider’s stock, valued at approximately $1,708,000.
A number of other large investors have also modified their holdings of VNET. Wolverine Trading LLC acquired a new position in VNET Group during the 3rd quarter worth approximately $46,000. Catalina Capital Group LLC purchased a new stake in shares of VNET Group during the fourth quarter valued at approximately $54,000.
Walleye Capital LLC acquired a new position in shares of VNET Group during the third quarter worth $115,000. Asset Management One Co. Ltd.
acquired a new position in shares of VNET Group during the fourth quarter worth $152,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of VNET Group in the third quarter valued at $191,000. Institutional investors and hedge funds own 72.
83% of the company’s stock. Wall Street Analysts Forecast Growth A number of equities analysts have commented on VNET shares. Citigroup boosted their price objective 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. StockNews.
com lowered VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Finally, Nomura Securities raised VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the company’s stock.
According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $9.30.
VNET Group Stock Performance Shares of VNET Group stock opened at $5.54 on Friday. 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, Inc. has a 1 year low of $1.42 and a 1 year high of $16.
13. The firm’s 50-day simple moving average is $9.92 and its 200-day simple moving average is $6.
33. The firm has a market cap of $1.43 billion, a PE ratio of -2.
50, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15.
VNET Group ( NASDAQ:VNET – Get Free Report ) last announced its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.
03 by ($0.04). The firm had revenue of $307.
75 million for the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative net margin of 28.
54% and a negative return on equity of 5.68%. Equities analysts forecast that VNET Group, Inc.
will post -0.06 earnings per share for the current fiscal year. About VNET Group ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding VNET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VNET Group, Inc.
( NASDAQ:VNET – Free Report ). Receive News & Ratings for VNET Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VNET Group and related companies with MarketBeat.com's FREE daily email newsletter .
.
