Diversify Advisory Services LLC Invests $357,000 in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET)

Diversify Advisory Services LLC acquired a new stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,489 shares of the information technology services provider's stock, valued at approximately $357,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC raised its stake 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in VNET Group in the 4th quarter valued at $41,000. Hsbc Holdings PLC bought a new stake in shares of VNET Group in the fourth quarter valued at about $66,000. Tower Research Capital LLC TRC acquired a new stake in VNET Group during the fourth quarter worth about $80,000. Finally, Burns Matteson Capital Management LLC acquired a new stake in shares of VNET Group during the 1st quarter valued at $176,000. 72.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised VNET Group from a "sell" rating to a "hold" rating in a report 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $9.30.

VNET Group Stock Performance

Shares of VNET traded down $0.34 during trading hours on Tuesday, reaching $8.09. 5,539,242 shares of the company's stock traded hands, compared to its average volume of 5,405,413. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -809.00, a P/E/G ratio of 1.69 and a beta of 0.14. VNET Group, Inc. - Unsponsored ADR has a twelve month low of $1.71 and a twelve month high of $16.13. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.10 and a quick ratio of 1.10. The business's fifty day simple moving average is $6.49 and its two-hundred day simple moving average is $7.53.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The information technology services provider reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The business had revenue of $309.52 million for the quarter, compared to the consensus estimate of $2.22 billion. VNET Group had a return on equity of 2.11% and a net margin of 1.66%. During the same period in the previous year, the business posted ($0.28) earnings per share. Analysts predict 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 share buyback program 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 programs are often an indication that the company's board of directors believes its shares are undervalued.

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.