Ghisallo Capital Management LLC Acquires Shares of 914,981 VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Ghisallo Capital Management LLC has purchased 914,981 shares of VNET Group, valued at approximately $7.5 million, representing about 0.36% of the company.
• VNET Group recently reported a quarterly earnings per share of ($0.01), missing consensus estimates, and its revenue fell significantly short at $339.65 million.
• The company has initiated a share buyback program, indicating the board believes that its stock is currently undervalued.

Ghisallo Capital Management LLC acquired a new stake in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 914,981 shares of the information technology services provider's stock, valued at approximately $7,503,000. Ghisallo Capital Management LLC owned about 0.36% of VNET Group as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Quantbot Technologies LP purchased a new position in shares of VNET Group in the 1st quarter valued at about $36,000. Summit Securities Group LLC purchased a new position in shares of VNET Group in the 1st quarter valued at about $40,000. Barclays PLC increased its stake in shares of VNET Group by 229.3% in the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of VNET Group in the 4th quarter valued at about $41,000. Finally, Liontrust Investment Partners LLP purchased a new position in shares of VNET Group in the 1st quarter valued at about $78,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on VNET shares. Wall Street Zen lowered VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 23rd. Bank of America boosted their price objective on VNET Group from $11.80 to $12.60 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Two investment 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, the stock presently has a consensus rating of "Buy" and an average price target of $9.96.

VNET Group Trading Down 0.7%

VNET traded down $0.06 during trading hours on Wednesday, reaching $8.00. The company's stock had a trading volume of 2,878,720 shares, compared to its average volume of 5,129,053. VNET Group, Inc. - Unsponsored ADR has a fifty-two week low of $2.66 and a fifty-two week high of $16.13. The stock has a market cap of $2.15 billion, a PE ratio of -100.00, a P/E/G ratio of 6.02 and a beta of 0.16. The business's 50-day moving average is $7.92 and its 200-day moving average is $7.72. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97.

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

VNET Group announced that its board has authorized a share repurchase 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. Shares buyback programs are typically a sign that the company's management 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.