Regal Partners Ltd acquired a new position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 368,879 shares of the information technology services provider’s stock, valued at approximately $3,095,000.
Several other large investors have also added to or reduced their stakes in VNET. Geode Capital Management LLC grew its stake in shares of VNET Group by 3.2% in the second quarter. Geode Capital Management LLC now owns 241,964 shares of the information technology services provider’s stock valued at $1,670,000 after buying an additional 7,489 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in VNET Group by 1,201.2% in the second quarter. JPMorgan Chase & Co. now owns 511,417 shares of the information technology services provider’s stock valued at $3,529,000 after acquiring an additional 472,115 shares during the last quarter. Quantbot Technologies LP lifted its stake in VNET Group by 333.0% in the second quarter. Quantbot Technologies LP now owns 18,805 shares of the information technology services provider’s stock valued at $130,000 after acquiring an additional 14,462 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of VNET Group by 52.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 1,426 shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in shares of VNET Group in the 2nd quarter valued at about $3,568,000. Institutional investors and hedge funds own 72.83% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on VNET shares. Wall Street Zen downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Morgan Stanley reissued an “overweight” rating and set a $16.00 price target on shares of VNET Group in a research report on Wednesday, May 27th. Weiss Ratings restated a “sell (d+)” rating on shares of VNET Group in a research note on Wednesday, July 15th. Zacks Research raised VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Bank of America set a $16.30 target price on VNET Group and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.40.
VNET Group Price Performance
Shares of VNET opened at $6.75 on Wednesday. The company’s 50-day moving average is $8.64 and its 200-day moving average is $9.59. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $1.83 billion, a PE ratio of -4.93 and a beta of 0.28. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $6.54 and a fifty-two week high of $14.48.
VNET Group (NASDAQ:VNET – Get Free Report) last announced its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.03) by ($1.17). VNET Group had a negative return on equity of 31.59% and a negative net margin of 22.01%.The company had revenue of $390.32 million for the quarter, compared to the consensus estimate of $388.47 million. Equities analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.24 EPS for the current year.
Insider Transactions at VNET Group
In other VNET Group news, Director Sean Shao sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.71, for a total transaction of $102,600.00. Following the completion of the sale, the director directly owned 983,820 shares in the company, valued at $1,682,332.20. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.10% of the stock is owned by company insiders.
VNET Group Company Profile
VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.
The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.
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