Deutsche Bank AG Invests $706,000 in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Deutsche Bank AG acquired a new stake in VNET Group, purchasing 86,119 shares valued at approximately $706,000 during the 1st quarter of the year.
• Research firms have mixed opinions on VNET Group, with Bank of America raising its target price from $11.80 to $12.60, while Wall Street Zen downgraded the stock from "hold" to "sell."
• VNET Group's stock performance shows a market cap of $2.11 billion and a significant price-to-earnings ratio of -98.00, contributing to a cautious outlook among analysts.

Deutsche Bank AG bought a new stake in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 86,119 shares of the information technology services provider's stock, valued at approximately $706,000.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of VNET Group by 111.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,197 shares of the information technology services provider's stock valued at $670,000 after buying an additional 42,710 shares during the last quarter. Hsbc Holdings PLC bought a new stake in VNET Group during the fourth quarter worth $66,000. Cetera Investment Advisers bought a new stake in VNET Group during the fourth quarter worth $102,000. Oppenheimer & Co. Inc. bought a new stake in VNET Group during the first quarter worth $207,000. Finally, Barclays PLC lifted its holdings in VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 4,939 shares during the period. Hedge funds and other institutional investors own 72.83% of the company's stock.

VNET Group Stock Performance

Shares of NASDAQ VNET traded up $0.73 during mid-day trading on Thursday, hitting $8.53. The company had a trading volume of 8,523,958 shares, compared to its average volume of 4,914,640. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -106.63, a P/E/G ratio of 5.42 and a beta of 0.18. VNET Group, Inc. - Unsponsored ADR has a 1 year low of $2.25 and a 1 year high of $16.13. 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 stock's 50-day moving average price is $7.71 and its 200-day moving average price is $7.80.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $339.65 million during 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 forecast that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current year.

VNET Group declared that its board has approved a stock buyback program on Friday, June 27th that allows the company to buyback $0.00 in shares. This buyback authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

VNET has been the topic of a number of recent analyst reports. Wall Street Zen lowered VNET Group from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. Bank of America lifted their price target on VNET Group from $11.80 to $12.60 and gave the stock a "buy" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, VNET Group currently has a consensus rating of "Buy" and a consensus target price of $9.96.

VNET Group 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.