VNET Group, Inc. (NASDAQ:VNET – Get Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $4.30, but opened at $4.12. VNET Group shares last traded at $4.15, with a volume of 123,494 shares.
Analysts Set New Price Targets
Several research firms have recently commented on VNET. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. Citigroup began coverage on shares of VNET Group in a report on Wednesday, September 4th. They set a “buy” rating and a $4.00 price target on the stock.
Check Out Our Latest Report on VNET
VNET Group Stock Performance
VNET Group (NASDAQ:VNET – Get Free Report) last posted its quarterly earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. The business had revenue of $274.35 million for the quarter, compared to analysts’ expectations of $266.56 million. On average, research analysts anticipate that VNET Group, Inc. will post 0.02 earnings per share for the current year.
Institutional Investors Weigh In On VNET Group
Large investors have recently bought and sold shares of the business. Catalina Capital Group LLC bought a new stake in VNET Group in the first quarter worth $26,000. Susquehanna Fundamental Investments LLC bought a new stake in VNET Group in the first quarter worth $328,000. Ballentine Partners LLC bought a new stake in VNET Group in the second quarter worth $36,000. Virtu Financial LLC boosted its holdings in VNET Group by 135.9% in the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock worth $293,000 after purchasing an additional 58,817 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in VNET Group by 1,199.7% in the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 39,050 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors.
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.
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