Invesco Ltd. Has $527,000 Position in VNET Group, Inc. (NASDAQ:VNET)

Invesco Ltd. reduced its position in VNET Group, Inc. (NASDAQ:VNET) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,223 shares of the information technology services provider’s stock after selling 5,576 shares during the quarter. Invesco Ltd.’s holdings in VNET Group were worth $527,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC grew its holdings in VNET Group by 5.7% in the fourth quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after purchasing an additional 7,737 shares during the period. Catalina Capital Group LLC purchased a new stake in shares of VNET Group during the fourth quarter valued at approximately $54,000. Blue Trust Inc. increased its position in shares of 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 valued at $257,000 after purchasing an additional 12,237 shares during the last quarter. Wedbush Securities Inc. bought a new stake in VNET Group in the fourth quarter worth about $127,000. Finally, Asset Management One Co. Ltd. bought a new stake in shares of VNET Group in the 4th quarter worth approximately $152,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Stock Performance

Shares of VNET stock opened at $7.08 on Friday. The company’s 50-day moving average is $8.08 and its 200 day moving average is $6.49. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -3.19, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15. VNET Group, Inc. has a one year low of $1.71 and a one year high of $16.13. 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 released its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share 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 the consensus estimate of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. Sell-side analysts expect that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on VNET. Citigroup boosted their price target on shares of VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 14th. StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Finally, Nomura Securities upgraded VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.