Caxton Associates LLP Sells 162,021 Shares of VNET Group, Inc. - Unsponsored ADR $VNET

Caxton Associates LLP decreased its position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 75.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,979 shares of the information technology services provider's stock after selling 162,021 shares during the quarter. Caxton Associates LLP's holdings in VNET Group were worth $453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Leonteq Securities AG bought a new position in VNET Group in the first quarter valued at about $25,000. Global Retirement Partners LLC bought a new stake in VNET Group during the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC grew its stake in VNET Group by 52.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 1,426 shares during the period. Parallel Advisors LLC increased its stake in shares of VNET Group by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider's stock valued at $46,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Allianz SE acquired a new position in shares of VNET Group during the fourth quarter valued at about $50,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Down 0.6%

Shares of NASDAQ:VNET opened at $7.17 on Tuesday. The stock has a fifty day simple moving average of $8.70 and a two-hundred day simple moving average of $9.61. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -5.23 and a beta of 0.28. VNET Group, Inc. - Unsponsored ADR has a 12-month low of $7.06 and a 12-month high of $14.48. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 3.99.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VNET shares. Bank of America set a $16.30 price objective on shares of VNET Group and gave the company a "buy" rating in a report on Tuesday, May 26th. Wall Street Zen cut VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Jefferies Financial Group reiterated a "buy" rating and issued a $24.79 price objective on shares of VNET Group in a research note on Tuesday, May 26th. Morgan Stanley reiterated an "overweight" rating and issued a $16.00 target price on shares of VNET Group in a research note on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of VNET Group in a report on Tuesday, July 7th. They issued a "buy" rating and a $12.50 price target on the stock. Four investment 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.40.

Insider Activity at VNET Group

In other VNET Group news, Director Sean Shao sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was 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 in the company, valued at $1,682,332.20. This trade represents a 5.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.10% of the stock is owned by company insiders.

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.

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