Candriam S.C.A. Purchases 93,875 Shares of VNET Group, Inc. – Unsponsored ADR $VNET

Candriam S.C.A. lifted its holdings in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 52.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,875 shares of the information technology services provider’s stock after acquiring an additional 93,875 shares during the quarter. Candriam S.C.A. owned approximately 0.10% of VNET Group worth $2,281,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of VNET. Personal CFO Solutions LLC raised its position in VNET Group by 4.6% in the 1st quarter. Personal CFO Solutions LLC now owns 37,199 shares of the information technology services provider’s stock valued at $312,000 after purchasing an additional 1,637 shares during the last quarter. AdvisorShares Investments LLC boosted its stake in VNET Group by 3.8% in the first quarter. AdvisorShares Investments LLC now owns 155,704 shares of the information technology services provider’s stock worth $1,306,000 after purchasing an additional 5,743 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of VNET Group during the first quarter worth $152,000. Leonteq Securities AG bought a new stake in shares of VNET Group during the first quarter worth $25,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of VNET Group in the first quarter valued at $149,000. 72.83% of the stock is currently owned by institutional investors.

Insider Transactions at VNET Group

In other VNET Group news, Director Sean Shao sold 60,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.71, for a total transaction of $102,600.00. Following the transaction, the director directly owned 983,820 shares in the company, valued at approximately $1,682,332.20. This represents a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.10% of the company’s stock.

VNET Group Trading Up 0.4%

VNET stock opened at $7.75 on Wednesday. The company has a market cap of $2.10 billion, a P/E ratio of -5.66 and a beta of 0.28. VNET Group, Inc. – Unsponsored ADR has a twelve month low of $7.17 and a twelve month high of $14.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. The business has a fifty day moving average of $9.08 and a 200-day moving average of $9.68.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America set a $16.30 price target on VNET Group and gave the company a “buy” rating in a report on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating and set a $24.79 price objective on shares of VNET Group in a report on Tuesday, May 26th. Morgan Stanley restated an “overweight” rating and issued a $16.00 price objective on shares of VNET Group in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research note on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of VNET Group in a research report on Tuesday, July 7th. They set a “buy” rating and a $12.50 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.40.

VNET Group 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.