Squarepoint Ops LLC Purchases New Shares in VNET Group, Inc. (NASDAQ:VNET)

Squarepoint Ops LLC purchased a new stake in VNET Group, Inc. (NASDAQ:VNET) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 27,933 shares of the information technology services provider’s stock, valued at approximately $132,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in shares of VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of VNET Group during the 4th quarter worth about $41,000. Hsbc Holdings PLC purchased a new stake in shares of VNET Group during the 4th quarter worth about $66,000. Tower Research Capital LLC TRC purchased a new stake in shares of VNET Group during the 4th quarter worth about $80,000. Finally, Cetera Investment Advisers purchased a new stake in shares of VNET Group during the 4th quarter worth about $102,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VNET. Nomura Securities raised VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Citigroup raised their price objective on VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, VNET Group presently has an average rating of “Buy” and an average price target of $9.30.

VNET Group Stock Performance

Shares of VNET opened at $6.15 on Tuesday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -2.77, a PEG ratio of 1.01 and a beta of 0.09. VNET Group, Inc. has a 12 month low of $1.71 and a 12 month high of $16.13. The firm has a fifty day simple moving average of $5.91 and a 200 day simple moving average of $6.97. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46.

VNET Group (NASDAQ:VNET) last issued its earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $309.52 million during the quarter, compared to the consensus estimate of $2.22 billion. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. During the same period in the previous year, the company posted ($0.28) earnings per share. Research analysts forecast that VNET Group, Inc. will post -0.06 EPS 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.