VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET – Get Free Report) SVP Zhihua Zhang sold 28,740 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $0.55, for a total transaction of $15,807.00. Following the transaction, the senior vice president owned 84,384 shares of the company’s stock, valued at $46,411.20. This represents a 25.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
VNET Group Stock Performance
VNET opened at $3.52 on Thursday. VNET Group, Inc. – Unsponsored ADR has a twelve month low of $2.91 and a twelve month high of $14.48. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 4.35. The stock has a market cap of $952.12 million, a PE ratio of -2.48 and a beta of 0.35. The business’s 50 day moving average is $5.35 and its 200-day moving average is $8.23.
VNET Group (NASDAQ:VNET – Get Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The company had revenue of $409.00 million during the quarter, compared to analyst estimates of $401.77 million. VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. On average, analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.51 earnings per share for the current year.
Institutional Investors Weigh In On VNET Group
Institutional investors and hedge funds have recently modified their holdings of the business. Infini Capital Management Ltd bought a new stake in VNET Group in the 2nd quarter valued at $38,883,000. Carmignac Gestion lifted its stake in VNET Group by 1,375.1% during the second quarter. Carmignac Gestion now owns 4,760,599 shares of the information technology services provider’s stock worth $38,123,000 after purchasing an additional 4,437,879 shares during the period. Senvest Management LLC boosted its holdings in VNET Group by 211.7% during the first quarter. Senvest Management LLC now owns 2,779,637 shares of the information technology services provider’s stock valued at $23,321,000 after purchasing an additional 1,887,883 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. acquired a new position in VNET Group during the second quarter worth $5,214,000. Finally, FACT Capital LP bought a new position in shares of VNET Group during the first quarter valued at $4,012,000. Institutional investors and hedge funds own 72.83% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on VNET shares. UBS Group decreased their price target on shares of VNET Group from $13.40 to $6.80 and set a “buy” rating on the stock in a research report on Friday, October 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 price objective on shares of VNET Group in a research note on Wednesday, August 19th. Finally, Weiss Ratings lowered shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.88.
Get Our Latest Stock Analysis on VNET
About VNET Group
VNET Group, Inc (NASDAQ:VNET), formerly known as 21Vianet Group, is a provider of data center and information technology infrastructure services in China. Founded in 1999, the company operates carrier-neutral data centers that allow customers to house servers and other equipment while connecting to multiple telecommunications and internet networks.
VNET’s services include data center hosting, cloud computing, managed network services, internet connectivity, content delivery and hybrid cloud solutions.
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