KADENSA CAPITAL Ltd Invests $8.14 Million in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• KADENSA CAPITAL Ltd has acquired a new stake in VNET Group, Inc., purchasing 992,065 shares worth approximately $8.135 million, representing a 0.39% ownership as per the recent SEC filing.
• In the last quarter, several large investors adjusted their positions in VNET, with Barclays PLC increasing its stake by 229.3% and Bank of America by 610.2%.
• VNET Group's stock has received a mixed response from analysts, with a consensus rating of "Buy" and a target price of $9.96, despite recent downgrades by some firms.

KADENSA CAPITAL Ltd bought a new stake in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 992,065 shares of the information technology services provider's stock, valued at approximately $8,135,000. KADENSA CAPITAL Ltd owned 0.39% of VNET Group as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Amundi acquired a new stake in shares of VNET Group in the first quarter valued at about $5,093,000. Point72 Europe London LLP acquired a new stake in shares of VNET Group in the first quarter valued at about $2,611,000. Royal Bank of Canada grew its position in shares of VNET Group by 2,304,491.9% in the first quarter. Royal Bank of Canada now owns 1,705,398 shares of the information technology services provider's stock valued at $13,985,000 after purchasing an additional 1,705,324 shares during the period. Ghisallo Capital Management LLC acquired a new stake in shares of VNET Group in the first quarter valued at about $7,503,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of VNET Group in the first quarter valued at about $262,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Stock Performance

Shares of NASDAQ:VNET traded down $0.22 during trading on Monday, reaching $7.68. The company had a trading volume of 3,880,716 shares, compared to its average volume of 5,639,322. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -96.00, a price-to-earnings-growth ratio of 5.49 and a beta of 0.16. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97. The stock's fifty day moving average price is $7.99 and its 200 day moving average price is $7.53. VNET Group, Inc. - Unsponsored ADR has a fifty-two week low of $2.67 and a fifty-two week high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). VNET Group had a return on equity of 0.98% and a net margin of 0.74%.The company had revenue of $339.65 million for 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 EPS for the current year.

VNET Group announced that its board has approved a share buyback program 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 purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Bank of America lifted their target price on shares of VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a report on Friday, August 22nd. Wall Street Zen downgraded VNET Group from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average 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.