Dorsey Wright & Associates Raises Holdings in VNET Group, Inc. – Unsponsored ADR $VNET

Dorsey Wright & Associates raised its stake in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 41.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 315,553 shares of the information technology services provider’s stock after acquiring an additional 93,071 shares during the quarter. Dorsey Wright & Associates’ holdings in VNET Group were worth $2,647,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of VNET. Triata Capital Ltd raised its holdings in VNET Group by 4.6% in the 4th quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider’s stock valued at $105,740,000 after acquiring an additional 550,841 shares during the last quarter. Norges Bank purchased a new position in shares of VNET Group in the 4th quarter valued at $65,650,000. Farallon Capital Management LLC lifted its stake in shares of VNET Group by 14.5% during the fourth quarter. Farallon Capital Management LLC now owns 6,285,386 shares of the information technology services provider’s stock worth $53,174,000 after purchasing an additional 796,266 shares in the last quarter. UBS Group AG lifted its position in VNET Group by 73.2% during the 3rd quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider’s stock worth $44,250,000 after acquiring an additional 1,809,987 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of VNET Group by 674.8% during the second quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock worth $23,067,000 after purchasing an additional 2,911,604 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $16.00 target price on shares of VNET Group in a research note on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $24.79 target price on shares of VNET Group in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of VNET Group in a research report on Tuesday, July 7th. They set a “buy” rating and a $12.50 price target for the company. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Zacks Research upgraded shares of VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.40.

Insider Buying and Selling

In other VNET Group news, Director Sean Shao sold 60,000 shares of the business’s stock in a transaction 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 transaction, the director owned 983,820 shares of the company’s stock, valued at $1,682,332.20. The trade was a 5.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.10% of the stock is owned by company insiders.

VNET Group Stock Performance

VNET stock opened at $7.39 on Friday. The firm has a 50 day simple moving average of $9.00 and a 200 day simple moving average of $9.65. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99. VNET Group, Inc. – Unsponsored ADR has a 52 week low of $7.10 and a 52 week high of $14.48. The stock has a market cap of $2.00 billion, a P/E ratio of -5.39 and a beta of 0.28.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($1.17). The business had revenue of $390.32 million for the quarter, compared to the consensus estimate of $388.47 million. VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. Research analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.24 earnings per share for the current fiscal year.

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.