VNET Group (NASDAQ:VNET – Get Rating) is scheduled to be announcing its earnings results after the market closes on Wednesday, May 24th. Analysts expect the company to announce earnings of $0.04 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.
VNET Group (NASDAQ:VNET – Get Rating) last issued its quarterly earnings data on Tuesday, March 21st. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.54). The company had revenue of $272.67 million during the quarter, compared to analysts’ expectations of $302.53 million. VNET Group had a negative net margin of 10.63% and a negative return on equity of 10.28%. On average, analysts expect VNET Group to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.
VNET Group Stock Down 1.0 %
Shares of VNET opened at $2.99 on Wednesday. The firm has a market cap of $442.74 million, a P/E ratio of -3.69 and a beta of -0.19. VNET Group has a 12-month low of $2.75 and a 12-month high of $6.83. The company’s 50-day moving average price is $3.19 and its 200 day moving average price is $4.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.43.
Analysts Set New Price Targets
Hedge Funds Weigh In On VNET Group
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of VNET Group by 9.8% during the first quarter. Geode Capital Management LLC now owns 154,890 shares of the information technology services provider’s stock worth $502,000 after buying an additional 13,809 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of VNET Group by 15.6% during the first quarter. Balyasny Asset Management L.P. now owns 346,721 shares of the information technology services provider’s stock worth $1,123,000 after buying an additional 46,721 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in VNET Group by 345.7% during the first quarter. Schonfeld Strategic Advisors LLC now owns 154,480 shares of the information technology services provider’s stock worth $501,000 after purchasing an additional 119,823 shares during the last quarter. Anson Funds Management LP purchased a new stake in VNET Group during the first quarter worth approximately $6,122,000. Finally, Two Sigma Advisers LP lifted its stake in VNET Group by 66.3% during the first quarter. Two Sigma Advisers LP now owns 129,700 shares of the information technology services provider’s stock worth $420,000 after purchasing an additional 51,700 shares during the last quarter.
About VNET Group
VNET Group, Inc is a holding company, which engages in the provision of carrier-neutral internet data center services. Its services include interconnectivity, colocation or data center managed hosting services, and cloud services. The company was founded by Sheng Chen and Jun Zhang on October 16, 1999 and is headquartered in Beijing, China.
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