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

Y Intercept Hong Kong Ltd acquired a new position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 392,232 shares of the information technology services provider’s stock, valued at approximately $2,706,000. Y Intercept Hong Kong Ltd owned approximately 0.15% of VNET Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in VNET Group by 111.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,197 shares of the information technology services provider’s stock worth $670,000 after purchasing an additional 42,710 shares in the last quarter. Amundi bought a new position in shares of VNET Group during the 1st quarter valued at approximately $5,093,000. Oppenheimer & Co. Inc. bought a new position in shares of VNET Group during the 1st quarter valued at approximately $207,000. Farther Finance Advisors LLC bought a new position in shares of VNET Group during the 2nd quarter valued at approximately $34,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of VNET Group by 16.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock valued at $101,000 after acquiring an additional 2,100 shares during the period. 72.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

VNET Group Stock Performance

Shares of VNET stock opened at $10.41 on Friday. The stock has a market capitalization of $2.80 billion, a P/E ratio of -130.13, a PEG ratio of 6.37 and a beta of 0.20. 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 firm’s 50 day moving average is $9.37 and its 200 day moving average is $7.64. VNET Group, Inc. – Unsponsored ADR has a 12 month low of $3.25 and a 12 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) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $339.65 million for the quarter, compared to analysts’ expectations of $2.27 billion. VNET Group had a net margin of 0.74% and a return on equity of 0.98%. VNET Group has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current 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.