HCEP Management Ltd Takes Position in VNET Group, Inc. (NASDAQ:VNET)

HCEP Management Ltd bought a new stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 525,527 shares of the information technology services provider's stock, valued at approximately $2,491,000. VNET Group makes up approximately 2.0% of HCEP Management Ltd's holdings, making the stock its 5th biggest holding. HCEP Management Ltd owned approximately 0.20% of VNET Group at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Walleye Capital LLC acquired a new stake in VNET Group in the third quarter worth about $115,000. Wolverine Trading LLC bought a new position in shares of VNET Group during the 3rd quarter valued at about $46,000. XTX Topco Ltd acquired a new position in shares of VNET Group in the 3rd quarter valued at approximately $343,000. Anson Funds Management LP raised its holdings in VNET Group by 84.9% during the 3rd quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider's stock worth $1,836,000 after buying an additional 206,580 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in VNET Group in the third quarter valued at approximately $191,000. Institutional investors own 72.83% of the company's stock.

VNET Group Stock Performance

VNET Group stock traded down $0.31 during midday trading on Thursday, reaching $5.59. 4,658,481 shares of the company's stock were exchanged, compared to its average volume of 3,790,668. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The stock's 50-day simple moving average is $9.99 and its 200 day simple moving average is $6.30. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -2.52, a P/E/G ratio of 1.01 and a beta of 0.15. VNET Group, Inc. has a 52 week low of $1.42 and a 52 week high of $16.13.

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VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $307.75 million during the quarter, compared to the consensus estimate of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. On average, analysts expect that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

VNET has been the subject of a number of research analyst reports. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. StockNews.com cut VNET Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Finally, Citigroup lifted their price objective on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $9.30.

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.