Inspire Investing LLC bought a new stake in VNET Group, Inc. (NASDAQ:VNET – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 267,594 shares of the information technology services provider’s stock, valued at approximately $1,092,000. Inspire Investing LLC owned about 0.10% of VNET Group at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Catalina Capital Group LLC bought a new stake in VNET Group in the first quarter valued at approximately $26,000. Ballentine Partners LLC purchased a new stake in VNET Group during the 2nd quarter valued at $36,000. AXA S.A. bought a new stake in VNET Group in the 2nd quarter worth $65,000. Headlands Technologies LLC grew its holdings in VNET Group by 1,199.7% in the 1st quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 39,050 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of VNET Group in the third quarter valued at about $262,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.
VNET Group Price Performance
Shares of VNET stock opened at $3.82 on Monday. The business’s fifty day moving average is $2.84 and its 200 day moving average is $2.27. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. The stock has a market cap of $983.27 million, a price-to-earnings ratio of -1.63, a PEG ratio of 8.08 and a beta of -0.30. VNET Group, Inc. has a twelve month low of $1.39 and a twelve month high of $4.50.
Analysts Set New Price Targets
Several analysts recently issued reports on VNET shares. Hsbc Global Res raised VNET Group to a “strong-buy” rating in a research note on Wednesday, October 9th. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective on the stock in a research report on Wednesday, October 9th. Citigroup began coverage on VNET Group in a research note on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price target for the company. Finally, StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $3.97.
View Our Latest Research Report on VNET Group
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.
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