Anson Funds Management LP Acquires 206,580 Shares of VNET Group, Inc. (NASDAQ:VNET)

Anson Funds Management LP boosted its position in VNET Group, Inc. (NASDAQ:VNET - Free Report) by 84.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,000 shares of the information technology services provider's stock after acquiring an additional 206,580 shares during the quarter. Anson Funds Management LP owned 0.17% of VNET Group worth $1,836,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its position in VNET Group by 89.1% during the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider's stock valued at $6,229,000 after buying an additional 1,400,683 shares during the period. Inspire Investing LLC purchased a new stake in VNET Group during the third quarter valued at about $1,092,000. XTX Topco Ltd purchased a new stake in VNET Group during the third quarter valued at about $343,000. WT Asset Management Ltd purchased a new stake in shares of VNET Group during the third quarter worth about $326,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of VNET Group by 24.8% during the third quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider's stock worth $1,506,000 after purchasing an additional 73,311 shares during the period. Institutional investors own 72.83% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on VNET. The Goldman Sachs Group upgraded shares of VNET Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $3.10 to $5.00 in a report on Friday, November 29th. HSBC upgraded shares of VNET Group from a "hold" rating to a "buy" rating and set a $5.20 target price for the company in a report on Wednesday, October 9th. Hsbc Global Res upgraded shares of VNET Group to a "strong-buy" rating in a report on Wednesday, October 9th. Citigroup initiated coverage on shares of VNET Group in a report on Wednesday, September 4th. They issued a "buy" rating and a $4.00 price objective for the company. Finally, UBS Group raised their price objective on shares of VNET Group from $6.40 to $7.00 and gave the stock a "buy" rating in a report on Friday, November 29th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $4.78.

VNET Group Stock Up 1.2 %

Shares of NASDAQ VNET traded up $0.05 on Friday, reaching $4.12. 1,448,711 shares of the company's stock traded hands, compared to its average volume of 2,037,988. VNET Group, Inc. has a 12 month low of $1.39 and a 12 month high of $4.50. The business's 50 day simple moving average is $3.73 and its two-hundred day simple moving average is $2.81. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -1.86 and a beta of -0.19. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46.

About VNET Group

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.