Candriam S.C.A. Makes New $10.50 Million Investment in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Candriam S.C.A. acquired 1,281,000 shares of VNET Group, valued at approximately $10.5 million, representing about 0.50% of the company's stock.
• VNET Group shares recently received upgrades from analysts, with an average rating of "Buy" and a target price of $9.30.
• The company reported earnings of ($0.12) per share, missing analysts' estimates, with a revenue of $309.52 million, significantly below the expected $2.22 billion.

Candriam S.C.A. acquired a new position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,281,000 shares of the information technology services provider's stock, valued at approximately $10,504,000. Candriam S.C.A. owned 0.50% of VNET Group as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of VNET Group during the first quarter valued at approximately $36,000. Summit Securities Group LLC bought a new position in VNET Group in the 1st quarter valued at $40,000. Barclays PLC increased its stake in VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 4,939 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of VNET Group during the fourth quarter worth $41,000. Finally, Liontrust Investment Partners LLP purchased a new stake in shares of VNET Group during the first quarter valued at $78,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Down 0.3%

Shares of NASDAQ VNET traded down $0.03 during trading hours on Tuesday, hitting $7.82. 3,339,054 shares of the stock were exchanged, compared to its average volume of 7,801,234. The company has a market cap of $2.10 billion, a PE ratio of -97.69, a PEG ratio of 5.76 and a beta of 0.18. VNET Group, Inc. - Unsponsored ADR has a 12 month low of $2.00 and a 12 month high of $16.13. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.40. The firm has a fifty day moving average price of $7.55 and a 200-day moving average price of $7.81.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The business had revenue of $339.65 million for the quarter, compared to analyst estimates of $2.27 billion. VNET Group had a return on equity of 0.98% and a net margin of 0.74%. VNET Group has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current year.

VNET Group declared that its board has initiated a share buyback program on Friday, June 27th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the information technology services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

VNET has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of VNET Group from a "hold" rating to a "sell" rating in a report on Saturday. Bank of America boosted their price target on VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, VNET Group has an average rating of "Buy" and a consensus target price of $9.96.

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.