VNET Group, Inc. (NASDAQ:VNET) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its position in VNET Group, Inc. (NASDAQ:VNET) by 14.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,546 shares of the information technology services provider’s stock after selling 39,048 shares during the period. Inspire Investing LLC owned approximately 0.09% of VNET Group worth $1,083,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of VNET Group by 89.1% in the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock valued at $6,229,000 after acquiring an additional 1,400,683 shares in the last quarter. Anson Funds Management LP boosted its holdings in VNET Group by 84.9% in 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 purchasing an additional 206,580 shares in the last quarter. SG Americas Securities LLC boosted its holdings in VNET Group by 534.6% in the 4th 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 in the last quarter. GSA Capital Partners LLP increased its position in VNET Group by 24.8% during the 3rd quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider’s stock worth $1,506,000 after purchasing an additional 73,311 shares during the period. Finally, Geode Capital Management LLC raised its stake 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 buying an additional 210,124 shares in the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

VNET Group Stock Performance

Shares of VNET stock opened at $6.85 on Friday. 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, Inc. has a fifty-two week low of $1.39 and a fifty-two week high of $6.86. The business has a fifty day simple moving average of $4.50 and a 200-day simple moving average of $3.43.

Analyst Ratings Changes

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

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.