Polymer Capital Management HK LTD Purchases Shares of 198,647 VNET Group, Inc. (NASDAQ:VNET)

Polymer Capital Management HK LTD purchased a new position in VNET Group, Inc. (NASDAQ:VNET - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 198,647 shares of the information technology services provider's stock, valued at approximately $942,000. Polymer Capital Management HK LTD owned about 0.08% of VNET Group at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its position in shares of VNET Group by 5.7% in the fourth quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider's stock valued at $685,000 after buying an additional 7,737 shares during the last quarter. Catalina Capital Group LLC acquired a new stake in VNET Group in the 4th quarter valued at about $54,000. Wolverine Trading LLC purchased a new position in VNET Group in the 3rd quarter worth approximately $46,000. Blue Trust Inc. boosted its holdings in shares of VNET Group by 29.1% during the 4th quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider's stock worth $257,000 after purchasing an additional 12,237 shares during the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in shares of VNET Group in the fourth quarter valued at approximately $127,000. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Trading Down 2.3 %

VNET Group stock traded down $0.13 during trading on Friday, hitting $5.54. The company had a trading volume of 7,240,331 shares, compared to its average volume of 3,841,315. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. The company's 50 day simple moving average is $9.92 and its 200-day simple moving average is $6.33. VNET Group, Inc. has a 1-year low of $1.42 and a 1-year high of $16.13. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -2.50, a price-to-earnings-growth ratio of 1.01 and a beta of 0.15.

Remove Ads

VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results 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). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The firm had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. As a group, analysts expect that VNET Group, Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com lowered VNET Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Citigroup raised their price objective on shares of VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target 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.