Y Intercept Hong Kong Ltd Makes New Investment in VNET Group, Inc. – Unsponsored ADR $VNET

Y Intercept Hong Kong Ltd bought a new position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 392,232 shares of the information technology services provider’s stock, valued at approximately $2,706,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in VNET Group in the 1st quarter worth approximately $36,000. FNY Investment Advisers LLC purchased a new stake in VNET Group in the 2nd quarter worth approximately $32,000. Summit Securities Group LLC purchased a new stake in VNET Group in the 1st quarter worth approximately $40,000. Farther Finance Advisors LLC purchased a new stake in VNET Group in the 2nd quarter worth approximately $34,000. Finally, Liontrust Investment Partners LLP purchased a new stake in VNET Group in the 1st quarter worth approximately $78,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VNET. Bank of America increased their target price on shares of VNET Group from $11.80 to $12.60 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of VNET Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, VNET Group presently has an average rating of “Moderate Buy” and an average target price of $11.15.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $10.41 on Friday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -130.13, a PEG ratio of 6.37 and a beta of 0.20. The company’s fifty day moving average price is $9.37 and its 200-day moving average price is $7.64. VNET Group, Inc. – Unsponsored ADR has a one year low of $3.25 and a one year high of $16.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97.

VNET Group (NASDAQ:VNET) last issued its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $339.65 million during the quarter, compared to analysts’ expectations 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. On average, equities research analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

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.