MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Position in VNET Group, Inc. - Unsponsored ADR $VNET

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,076,967 shares of the information technology services provider's stock after selling 68,562 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.81% of VNET Group worth $17,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in VNET. Quantbot Technologies LP bought a new stake in VNET Group in the 1st quarter valued at $36,000. Summit Securities Group LLC acquired a new position in shares of VNET Group during the 1st quarter worth $40,000. Barclays PLC lifted its position in shares of VNET Group by 229.3% during the 4th quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after buying an additional 4,939 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of VNET Group by 7.1% in the first quarter. Invesco Ltd. now owns 119,104 shares of the information technology services provider's stock worth $977,000 after acquiring an additional 7,881 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of VNET Group in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Price Performance

Shares of VNET traded up $1.18 during mid-day trading on Thursday, reaching $9.11. 13,557,014 shares of the stock traded hands, compared to its average volume of 5,616,428. The firm has a fifty day moving average price of $8.06 and a 200 day moving average price of $7.51. VNET Group, Inc. - Unsponsored ADR has a 1 year low of $2.67 and a 1 year high of $16.13. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -113.88, a price-to-earnings-growth ratio of 5.51 and a beta of 0.16. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.40.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share 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 company had revenue of $339.65 million during the quarter, compared to analysts' expectations 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 year.

VNET Group declared that its board has initiated a stock buyback plan on Friday, June 27th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the information technology services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

VNET has been the topic of a number of recent research reports. 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 upped their target price on VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a research report on Friday, August 22nd. Two research 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, the stock presently has a consensus rating of "Buy" and an average target price of $9.96.

VNET Group 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.