Wallace Advisory Group LLC Purchases New Holdings in VNET Group, Inc. – Unsponsored ADR $VNET

Wallace Advisory Group LLC purchased a new stake in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the second quarter, Holdings Channel.com reports. The firm purchased 12,004 shares of the information technology services provider’s stock, valued at approximately $83,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VNET. Oppenheimer & Co. Inc. purchased a new position in VNET Group in the first quarter valued at about $207,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in VNET Group by 111.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,197 shares of the information technology services provider’s stock valued at $670,000 after purchasing an additional 42,710 shares during the last quarter. Shilanski & Associates Inc. purchased a new position in VNET Group in the first quarter valued at about $274,000. GF Fund Management CO. LTD. purchased a new position in VNET Group in the first quarter valued at about $4,654,000. Finally, Envestnet Asset Management Inc. acquired a new stake in VNET Group during the first quarter valued at approximately $1,652,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VNET. Bank of America upped their price objective on VNET Group from $11.80 to $12.60 and gave the company a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of VNET Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded VNET Group from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, VNET Group has a consensus rating of “Moderate Buy” and a consensus price target of $11.15.

VNET Group Stock Down 0.1%

Shares of VNET Group stock opened at $9.36 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.40. The business’s 50 day simple moving average is $9.07 and its 200-day simple moving average is $7.44. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -117.00, a PEG ratio of 5.40 and a beta of 0.20. VNET Group, Inc. – Unsponsored ADR has a twelve month low of $3.25 and a twelve month high of $16.13.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $339.65 million for the quarter, compared to analyst estimates of $2.27 billion. VNET Group had a return on equity of 0.98% and a net margin of 0.74%. VNET Group has set its FY 2025 guidance at EPS. Equities research analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current year.

VNET Group declared that its Board of Directors has initiated a share repurchase program on Friday, June 27th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the information technology services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.