Dymon Asia Capital Singapore PTE. LTD. Takes $594,000 Position in VNET Group, Inc. (NASDAQ:VNET)

Dymon Asia Capital Singapore PTE. LTD. purchased a new stake in shares of VNET Group, Inc. (NASDAQ:VNET - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 125,300 shares of the information technology services provider's stock, valued at approximately $594,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in VNET Group by 622.8% in the fourth quarter. JPMorgan Chase & Co. now owns 989,402 shares of the information technology services provider's stock worth $4,690,000 after buying an additional 852,519 shares in the last quarter. HCEP Management Ltd purchased a new stake in VNET Group in the 4th quarter worth approximately $2,491,000. Arrowstreet Capital Limited Partnership bought a new stake in VNET Group during the 4th quarter worth approximately $1,811,000. Norges Bank purchased a new position in VNET Group during the fourth quarter valued at approximately $1,708,000. Finally, SG Americas Securities LLC boosted its position in shares of VNET Group by 534.6% in the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider's stock worth $1,931,000 after purchasing an additional 343,140 shares during the period. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Citigroup boosted their price target on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $9.30.

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VNET Group Trading Down 2.0 %

Shares of VNET traded down $0.11 during trading hours on Tuesday, reaching $5.39. 5,692,467 shares of the company traded hands, compared to its average volume of 3,877,503. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -2.43, a PEG ratio of 1.01 and a beta of 0.15. VNET Group, Inc. has a 12-month low of $1.42 and a 12-month high of $16.13. The stock's fifty day moving average price is $9.86 and its 200 day moving average price is $6.36. 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 - Get Free Report) last issued its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The company had revenue of $307.75 million during the quarter, compared to the consensus estimate of $284.88 million. Sell-side analysts forecast that VNET Group, Inc. will post -0.06 earnings per share for the current year.

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.