AI Squared Management Ltd Acquires New Position in VNET Group, Inc. (NASDAQ:VNET)

AI Squared Management Ltd acquired a new stake in VNET Group, Inc. (NASDAQ:VNET) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 311,234 shares of the information technology services provider’s stock, valued at approximately $893,000. VNET Group makes up about 1.1% of AI Squared Management Ltd’s holdings, making the stock its 16th biggest holding. AI Squared Management Ltd owned approximately 0.21% of VNET Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in VNET Group during the 3rd quarter valued at approximately $63,000. Jump Financial LLC boosted its position in shares of VNET Group by 89.2% during the 3rd quarter. Jump Financial LLC now owns 41,869 shares of the information technology services provider’s stock valued at $131,000 after purchasing an additional 19,734 shares in the last quarter. Maven Securities LTD increased its holdings in VNET Group by 11.7% in the third quarter. Maven Securities LTD now owns 127,973 shares of the information technology services provider’s stock worth $401,000 after purchasing an additional 13,447 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of VNET Group by 7.6% in the 3rd quarter. California Public Employees Retirement System now owns 225,645 shares of the information technology services provider’s stock valued at $706,000 after acquiring an additional 16,026 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in VNET Group in the fourth quarter worth approximately $2,021,000. Institutional investors own 72.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VNET shares. StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Bank of America raised VNET Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $3.90 to $2.70 in a research report on Tuesday, March 19th.

VNET Group Price Performance

Shares of NASDAQ VNET traded down $0.06 during mid-day trading on Thursday, reaching $1.93. 537,573 shares of the company were exchanged, compared to its average volume of 1,881,607. The stock has a market capitalization of $285.77 million, a PE ratio of -0.80 and a beta of -0.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.56. VNET Group, Inc. has a 52 week low of $1.39 and a 52 week high of $3.88. The company’s 50 day moving average price is $1.71 and its 200 day moving average price is $2.24.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Wednesday, March 27th. The information technology services provider reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.50). The firm had revenue of $267.40 million for the quarter, compared to the consensus estimate of $289.41 million. VNET Group had a negative net margin of 35.68% and a negative return on equity of 11.15%. Sell-side analysts forecast that VNET Group, Inc. will post -0.02 earnings per share for the current fiscal year.

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.