Cubist Systematic Strategies LLC Sells 11,258 Shares of VNET Group, Inc. (NASDAQ:VNET)

Cubist Systematic Strategies LLC lowered its position in VNET Group, Inc. (NASDAQ:VNET) by 41.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,896 shares of the information technology services provider’s stock after selling 11,258 shares during the period. Cubist Systematic Strategies LLC’s holdings in VNET Group were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ballentine Partners LLC bought a new position in VNET Group in the 2nd quarter valued at $36,000. Maso Capital Partners Ltd lifted its position in VNET Group by 15.6% during the 1st quarter. Maso Capital Partners Ltd now owns 1,853,771 shares of the information technology services provider’s stock worth $2,873,000 after buying an additional 250,000 shares in the last quarter. Headlands Technologies LLC grew its holdings in VNET Group by 1,199.7% during 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. Susquehanna Fundamental Investments LLC acquired a new stake in VNET Group in the 1st quarter valued at about $328,000. Finally, Catalina Capital Group LLC bought a new position in shares of VNET Group in the first quarter worth about $26,000. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Stock Performance

VNET Group stock opened at $3.87 on Wednesday. The company has a market cap of $996.14 million, a PE ratio of -1.47, a PEG ratio of 8.72 and a beta of -0.30. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.47. VNET Group, Inc. has a 1 year low of $1.39 and a 1 year high of $4.50. The company’s 50-day moving average is $2.72 and its two-hundred day moving average is $2.23.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Tuesday, August 27th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. The firm had revenue of $274.35 million for the quarter, compared to analysts’ expectations of $266.56 million. Equities analysts anticipate that VNET Group, Inc. will post 0.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Citigroup started coverage on VNET Group in a research report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price objective on the stock.

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.