VNET Group, Inc. (NASDAQ:VNET) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in shares of VNET Group, Inc. (NASDAQ:VNET) by 15.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,000 shares of the information technology services provider’s stock after selling 8,800 shares during the period. SG Americas Securities LLC’s holdings in VNET Group were worth $144,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in VNET Group by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,704,264 shares of the information technology services provider’s stock worth $14,724,000 after buying an additional 43,347 shares during the period. BlackRock Inc. increased its position in VNET Group by 6.4% during the second quarter. BlackRock Inc. now owns 2,295,628 shares of the information technology services provider’s stock worth $6,657,000 after buying an additional 138,075 shares during the period. Dimensional Fund Advisors LP increased its position in VNET Group by 7.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,856,388 shares of the information technology services provider’s stock worth $10,206,000 after buying an additional 127,469 shares during the period. FMR LLC increased its position in VNET Group by 14,776,930.0% during the second quarter. FMR LLC now owns 1,477,703 shares of the information technology services provider’s stock worth $8,925,000 after buying an additional 1,477,693 shares during the period. Finally, Hsbc Holdings PLC increased its position in VNET Group by 1,424.1% during the first quarter. Hsbc Holdings PLC now owns 986,362 shares of the information technology services provider’s stock worth $5,751,000 after buying an additional 921,643 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Trading Down 5.1 %

Shares of VNET stock opened at $1.50 on Wednesday. The business’s 50 day moving average is $1.67 and its two-hundred day moving average is $2.37. VNET Group, Inc. has a twelve month low of $1.39 and a twelve month high of $3.88. The company has a market capitalization of $222.68 million, a P/E ratio of -0.61 and a beta of -0.29. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.23.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America raised VNET Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $3.90 to $2.70 in a research report on Tuesday, March 19th. StockNews.com downgraded VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, April 5th.

VNET Group Company 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.