Banque Cantonale Vaudoise Invests $3.15 Million in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET)

Banque Cantonale Vaudoise acquired a new stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 383,700 shares of the information technology services provider's stock, valued at approximately $3,146,000. Banque Cantonale Vaudoise owned about 0.15% of VNET Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in VNET. Valliance Asset Management Ltd acquired a new stake in VNET Group during the 1st quarter worth $1,640,000. Pacer Advisors Inc. acquired a new position in VNET Group in the first quarter valued at about $7,855,000. Navellier & Associates Inc. bought a new stake in shares of VNET Group in the first quarter worth about $782,000. Cetera Investment Advisers raised its position in shares of VNET Group by 297.3% during the first quarter. Cetera Investment Advisers now owns 85,463 shares of the information technology services provider's stock worth $701,000 after purchasing an additional 63,953 shares during the period. Finally, Dorsey Wright & Associates bought a new position in shares of VNET Group during the 1st quarter valued at about $3,024,000. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Trading Down 9.9%

Shares of VNET Group stock traded down $0.82 during trading on Friday, hitting $7.49. The company's stock had a trading volume of 8,420,045 shares, compared to its average volume of 7,129,111. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -749.00, a price-to-earnings-growth ratio of 3.38 and a beta of 0.14. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10. VNET Group, Inc. - Unsponsored ADR has a 52 week low of $1.71 and a 52 week high of $16.13. The stock has a 50-day moving average price of $6.87 and a two-hundred day moving average price of $7.70.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). VNET Group had a return on equity of 2.11% and a net margin of 1.66%. The business had revenue of $309.52 million during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the business posted ($0.28) earnings per share. Equities research analysts anticipate that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current fiscal year.

VNET Group declared that its Board of Directors has authorized a stock repurchase plan on Friday, June 27th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of VNET Group from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $9.30.

About VNET Group

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.