Headlands Technologies LLC Buys Shares of 239,467 VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Headlands Technologies acquired 239,467 VNET Group shares worth approximately $1.93 million, representing about 0.09% of the company. Institutional investors collectively own 72.83% of VNET.
• VNET shares opened at $6.06, near their 52-week low of $6.02 and well below the 52-week high of $14.48. The company reported a quarterly loss of $0.06 per share, missing estimates, despite revenue exceeding expectations.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $16.90, compared with the current share price.

Headlands Technologies LLC bought a new position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 239,467 shares of the information technology services provider's stock, valued at approximately $1,925,000. Headlands Technologies LLC owned approximately 0.09% of VNET Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of VNET Group by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 241,964 shares of the information technology services provider's stock valued at $1,670,000 after purchasing an additional 7,489 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of VNET Group by 1,201.2% in the second quarter. JPMorgan Chase & Co. now owns 511,417 shares of the information technology services provider's stock worth $3,529,000 after buying an additional 472,115 shares in the last quarter. Quantbot Technologies LP raised its position in shares of VNET Group by 333.0% in the second quarter. Quantbot Technologies LP now owns 18,805 shares of the information technology services provider's stock worth $130,000 after buying an additional 14,462 shares in the last quarter. EverSource Wealth Advisors LLC boosted 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 valued at $29,000 after buying an additional 1,426 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in VNET Group during the second quarter worth about $3,568,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Price Performance

Shares of VNET Group stock opened at $6.06 on Tuesday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97. VNET Group, Inc. - Unsponsored ADR has a 52-week low of $6.02 and a 52-week high of $14.48. The company has a fifty day moving average of $7.41 and a 200-day moving average of $8.93. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -4.27 and a beta of 0.32.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its earnings results on Tuesday, August 18th. The information technology services provider reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). The business had revenue of $409.00 million during the quarter, compared to analysts' expectations of $401.77 million. VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. Equities research analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.27 EPS for the current year.

Wall Street Analyst Weigh In

VNET has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on VNET Group in a research note on Tuesday, July 7th. They issued a "buy" rating and a $12.50 target price on the stock. Jefferies Financial Group reissued a "buy" rating and set a $24.79 price objective on shares of VNET Group in a report on Tuesday, May 26th. Weiss Ratings restated a "sell (d+)" rating on shares of VNET Group in a research report on Wednesday, July 15th. Wall Street Zen downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Finally, Zacks Research raised shares of VNET Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $16.90.

About VNET Group

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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