VNET Group (NASDAQ:VNET) Trading 5.1% Higher

VNET Group, Inc. (NASDAQ:VNET) shares were up 5.1% during trading on Tuesday . The stock traded as high as $2.87 and last traded at $2.87. Approximately 182,765 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,435,772 shares. The stock had previously closed at $2.73.

Analyst Ratings Changes

VNET has been the subject of a number of recent analyst reports. Citigroup began coverage on shares of VNET Group in a report on Wednesday, September 4th. They set a “buy” rating and a $4.00 price target for the company. StockNews.com upgraded VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st.

VNET Group Trading Up 8.8 %

The company’s 50 day moving average is $2.21 and its 200 day moving average is $2.00. The stock has a market capitalization of $764.47 million, a price-to-earnings ratio of -1.10, a PEG ratio of 5.99 and a beta of -0.32. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.87 and a current ratio of 0.87.

Institutional Trading of VNET Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Catalina Capital Group LLC acquired a new stake in VNET Group during the first quarter worth $26,000. Ballentine Partners LLC acquired a new stake in VNET Group in the 2nd quarter valued at $36,000. AXA S.A. bought a new stake in VNET Group in the second quarter valued at $65,000. Headlands Technologies LLC raised its stake in VNET Group by 1,199.7% during the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 39,050 shares in the last quarter. Finally, Jump Financial LLC boosted its stake in shares of VNET Group by 101.6% in the 4th quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock valued at $242,000 after purchasing an additional 42,537 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors.

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.