Catalina Capital Group LLC Invests $54,000 in VNET Group, Inc. (NASDAQ:VNET)

Catalina Capital Group LLC acquired a new stake in VNET Group, Inc. (NASDAQ:VNET) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 11,301 shares of the information technology services provider’s stock, valued at approximately $54,000.

A number of other institutional investors have also modified their holdings of VNET. Millennium Management LLC boosted its position in VNET Group by 89.1% during the 2nd quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock worth $6,229,000 after purchasing an additional 1,400,683 shares during the period. SG Americas Securities LLC raised its position in VNET Group by 534.6% in the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock valued at $1,931,000 after purchasing an additional 343,140 shares during the period. Inspire Investing LLC purchased a new stake in shares of VNET Group in the third quarter worth about $1,092,000. Geode Capital Management LLC raised its holdings in shares of VNET Group by 237.7% during the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock valued at $1,218,000 after buying an additional 210,124 shares during the period. Finally, Anson Funds Management LP raised its holdings in shares of VNET Group by 84.9% during the 3rd quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider’s stock valued at $1,836,000 after buying an additional 206,580 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on VNET. UBS Group increased their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. HSBC upgraded shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective on the stock in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $3.10 to $5.00 in a research note on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $4.78.

VNET Group Price Performance

Shares of VNET stock opened at $7.54 on Wednesday. The firm has a fifty day moving average of $5.06 and a two-hundred day moving average of $3.72. The firm has a market cap of $1.94 billion, a P/E ratio of -3.40, a P/E/G ratio of 0.61 and a beta of -0.18. VNET Group, Inc. has a 1-year low of $1.39 and a 1-year high of $8.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83.

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.