Catalina Capital Group LLC Buys Shares of 11,301 VNET Group, Inc. (NASDAQ:VNET)

Catalina Capital Group LLC purchased a new position in shares of VNET Group, Inc. (NASDAQ:VNET) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,301 shares of the information technology services provider’s stock, valued at approximately $54,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Blue Trust Inc. raised its position in VNET Group by 29.1% during the fourth quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock worth $257,000 after acquiring an additional 12,237 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of VNET Group by 534.6% during the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock worth $1,931,000 after purchasing an additional 343,140 shares in the last quarter. 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 worth $558,000 after purchasing an additional 136,783 shares during the last quarter. Virtu Financial LLC purchased a new stake in VNET Group in the 3rd quarter valued at approximately $519,000. Finally, Geode Capital Management LLC lifted its stake in VNET Group by 237.7% in 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 in the last quarter. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on VNET shares. UBS Group boosted their price target on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a report on Friday, November 29th. HSBC raised shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group raised shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. Finally, Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, VNET Group presently has an average rating of “Buy” and a consensus target price of $4.78.

VNET Group Trading Up 4.4 %

Shares of VNET stock opened at $7.54 on Wednesday. The firm’s 50-day simple moving average is $5.06 and its 200-day simple moving average is $3.72. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. VNET Group, Inc. has a 1-year low of $1.39 and a 1-year high of $8.14. The firm has a market cap of $1.94 billion, a P/E ratio of -3.40, a PEG ratio of 0.61 and a beta of -0.18.

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.