Caxton Associates LLP Purchases New Stake in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Caxton Associates LLP has acquired a new position in VNET Group, purchasing 108,841 shares valued at approximately $892,000.
• VNET Group's share price has recently declined 4.8%, with shares opening at $7.93, and the stock has an average target price of $9.96.
• The company reported a loss of $0.01 EPS for the last quarter, missing analysts' expectations, along with a revenue of $339.65 million, significantly below the anticipated $2.27 billion.

Caxton Associates LLP acquired a new stake in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 108,841 shares of the information technology services provider's stock, valued at approximately $892,000.

Other institutional investors have also recently added to or reduced their stakes in the company. KADENSA CAPITAL Ltd bought a new position in VNET Group during the 1st quarter valued at $8,135,000. Amundi acquired a new stake in shares of VNET Group in the first quarter valued at $5,093,000. Point72 Europe London LLP bought a new position in VNET Group during the first quarter valued at about $2,611,000. Royal Bank of Canada grew its holdings in VNET Group by 2,304,491.9% during the first quarter. Royal Bank of Canada now owns 1,705,398 shares of the information technology services provider's stock worth $13,985,000 after acquiring an additional 1,705,324 shares during the period. Finally, Ghisallo Capital Management LLC bought a new stake in VNET Group in the first quarter worth about $7,503,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Stock Performance

VNET remained flat at $9.59 during trading on Tuesday. The company had a trading volume of 6,463,713 shares, compared to its average volume of 6,690,232. The company has a 50-day moving average of $8.18 and a 200-day moving average of $7.41. 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 firm has a market capitalization of $2.58 billion, a P/E ratio of -119.88, a price-to-earnings-growth ratio of 6.11 and a beta of 0.16. VNET Group, Inc. - Unsponsored ADR has a 1 year low of $2.74 and a 1 year high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $339.65 million during 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 announced that its Board of Directors has initiated a stock repurchase plan on Friday, June 27th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the information technology services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. Bank of America increased their target price on shares of VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, VNET Group presently has a consensus rating of "Buy" and a consensus price target of $9.96.

VNET Group Company 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.