Zhihua Zhang Sells 9,072 Shares of VNET Group (NASDAQ:VNET) Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) SVP Zhihua Zhang sold 9,072 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $1.69, for a total transaction of $15,331.68. Following the completion of the sale, the senior vice president owned 33,924 shares in the company, valued at $57,331.56. This represents a 21.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

VNET Group Stock Up 1.2%

Shares of NASDAQ:VNET opened at $10.21 on Thursday. VNET Group, Inc. – Unsponsored ADR has a 52 week low of $5.14 and a 52 week high of $14.48. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.92 and a current ratio of 0.92. The company’s fifty day moving average is $9.13 and its 200-day moving average is $9.72. The company has a market capitalization of $2.76 billion, a PE ratio of -35.21 and a beta of 0.19.

VNET Group (NASDAQ:VNET) last issued its earnings results on Monday, March 16th. The information technology services provider reported $0.00 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.04). VNET Group had a negative net margin of 2.48% and a positive return on equity of 1.36%. The firm had revenue of $384.07 million during the quarter, compared to analyst estimates of $368.64 million. Equities research analysts predict that VNET Group, Inc. – Unsponsored ADR will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

VNET has been the topic of several research reports. Bank of America reiterated a “buy” rating on shares of VNET Group in a research report on Monday, March 16th. Zacks Research downgraded shares of VNET Group from a “hold” rating to a “strong sell” rating in a research report on Monday. Wall Street Zen upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $23.55 price target on shares of VNET Group in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.08.

Institutional Trading of VNET Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Leonteq Securities AG bought a new stake in VNET Group during the 1st quarter worth about $25,000. Global Retirement Partners LLC bought a new stake in VNET Group during the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC raised its holdings in VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 1,426 shares during the last quarter. Parallel Advisors LLC raised its holdings in VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Allianz SE bought a new stake in VNET Group during the 4th quarter worth about $50,000. 72.83% of the stock is owned by institutional investors.

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.