HCEP Management Ltd Invests $2.49 Million in VNET Group, Inc. (NASDAQ:VNET)

HCEP Management Ltd bought a new position in shares of VNET Group, Inc. (NASDAQ:VNET) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 525,527 shares of the information technology services provider’s stock, valued at approximately $2,491,000. VNET Group makes up 2.0% of HCEP Management Ltd’s investment portfolio, making the stock its 5th biggest holding. HCEP Management Ltd owned 0.20% of VNET Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Catalina Capital Group LLC acquired a new stake in shares of VNET Group during the fourth quarter worth $54,000. Wolverine Trading LLC acquired a new stake in VNET Group during the 3rd quarter worth approximately $46,000. Walleye Capital LLC bought a new stake in shares of VNET Group in the third quarter worth $115,000. Asset Management One Co. Ltd. bought a new position in shares of VNET Group during the fourth quarter worth about $152,000. Finally, Public Employees Retirement System of Ohio bought a new position in VNET Group during the 3rd quarter worth approximately $191,000. 72.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on VNET. StockNews.com downgraded VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Citigroup increased their price objective on VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Nomura Securities raised VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.30.

VNET Group Stock Performance

VNET stock opened at $6.39 on Friday. The stock’s fifty day moving average price is $10.11 and its 200-day moving average price is $6.20. VNET Group, Inc. has a 1 year low of $1.42 and a 1 year high of $16.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $1.64 billion, a P/E ratio of -2.88, a price-to-earnings-growth ratio of 1.01 and a beta of 0.07.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings results 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 business had revenue of $307.75 million during the quarter, compared to analysts’ expectations of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. On average, equities analysts forecast that VNET Group, Inc. will post -0.06 earnings per share for the current 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.