Symmetry Investments LP Purchases New Position in VNET Group, Inc. (NASDAQ:VNET)

Symmetry Investments LP bought a new stake in VNET Group, Inc. (NASDAQ:VNET - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 571,290 shares of the information technology services provider's stock, valued at approximately $2,708,000. Symmetry Investments LP owned about 0.22% of VNET Group as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC boosted its position in VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 4,939 shares during the period. Catalina Capital Group LLC bought a new position in VNET Group in the 4th quarter worth $54,000. Hsbc Holdings PLC bought a new stake in VNET Group during the fourth quarter valued at about $66,000. Tower Research Capital LLC TRC acquired a new stake in shares of VNET Group in the fourth quarter valued at about $80,000. Finally, Wedbush Securities Inc. acquired a new position in shares of VNET Group during the 4th quarter worth about $127,000. Institutional investors and hedge funds own 72.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on VNET. StockNews.com lowered VNET Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Finally, Citigroup lifted their target price on VNET Group from $16.10 to $20.00 and gave the stock a "buy" rating in a research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $9.30.

VNET Group Trading Up 1.5 %

VNET stock opened at $4.87 on Wednesday. The business's 50 day moving average is $9.23 and its 200-day moving average is $6.37. 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 firm has a market cap of $1.25 billion, a P/E ratio of -2.19, a P/E/G ratio of 1.01 and a beta of 0.15. VNET Group, Inc. has a 1-year low of $1.43 and a 1-year high of $16.13.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million for 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%. Equities analysts anticipate that VNET Group, Inc. will post -0.06 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding VNET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VNET Group, Inc. (NASDAQ:VNET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.