Jump Financial LLC Makes New Investment in VNET Group, Inc. (NASDAQ:VNET)

Jump Financial LLC bought a new position in VNET Group, Inc. (NASDAQ:VNET) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 357,416 shares of the information technology services provider’s stock, valued at approximately $1,694,000. Jump Financial LLC owned about 0.14% of VNET Group at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. 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 worth $1,218,000 after acquiring an additional 210,124 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of VNET Group in the 4th quarter worth $152,000. JPMorgan Chase & Co. raised its position in shares of VNET Group by 136,783.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock valued at $558,000 after buying an additional 136,783 shares in the last quarter. Virtu Financial LLC bought a new position in shares of VNET Group in the 3rd quarter valued at about $519,000. Finally, Norges Bank bought a new stake in VNET Group during the fourth quarter worth approximately $1,708,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VNET has been the topic of several analyst reports. StockNews.com downgraded VNET Group from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Citigroup upped their price target on shares of VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, VNET Group currently has an average rating of “Buy” and an average target price of $9.30.

VNET Group Stock Up 5.9 %

Shares of NASDAQ VNET opened at $5.02 on Friday. The stock has a 50 day moving average price of $9.50 and a 200 day moving average price of $6.36. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -2.26, a PEG ratio of 1.01 and a beta of 0.15. VNET Group, Inc. has a 52-week low of $1.43 and a 52-week high of $16.13. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

VNET Group (NASDAQ:VNET) last posted 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). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The firm had revenue of $307.75 million for the quarter, compared to the consensus estimate of $284.88 million. Sell-side analysts expect 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.