31,955 Shares in VNET Group, Inc. - Unsponsored ADR $VNET Purchased by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. has acquired 31,955 shares of VNET Group, valued at around $262,000, marking a new stake in the information technology services provider.
• VNET Group's stock has seen a 3.4% increase, with a current price of $7.90 and a market capitalization of $2.12 billion.
• Despite a revenue of $339.65 million in the last quarter, VNET missed earnings expectations with an EPS of ($0.01), and analysts predict a -0.06 EPS for the current year.

Nomura Holdings Inc. purchased a new stake in shares of 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 & Exchange Commission. The institutional investor purchased 31,955 shares of the information technology services provider's stock, valued at approximately $262,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in VNET Group by 229.3% in the fourth 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. Quantbot Technologies LP purchased a new position in shares of VNET Group in the 1st quarter worth about $36,000. Summit Securities Group LLC purchased a new stake in shares of VNET Group during the 1st quarter valued at about $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in VNET Group in the 4th quarter worth approximately $41,000. Finally, Hsbc Holdings PLC bought a new position in VNET Group in the 4th quarter worth approximately $66,000. Institutional investors own 72.83% of the company's stock.

VNET Group Stock Up 16.0%

Shares of NASDAQ VNET traded up $1.27 during midday trading on Thursday, hitting $9.20. 7,676,811 shares of the company's stock were exchanged, compared to its average volume of 7,729,861. 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, Inc. - Unsponsored ADR has a twelve month low of $2.67 and a twelve month high of $16.13. The company has a market cap of $2.47 billion, a PE ratio of -114.55, a P/E/G ratio of 5.79 and a beta of 0.16. The firm's fifty day simple moving average is $8.04 and its 200-day simple moving average is $7.54.

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 the consensus estimate 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. Research analysts predict that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current fiscal year.

VNET Group announced that its Board of Directors has authorized a stock buyback program on Friday, June 27th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the information technology services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VNET. Bank of America lifted their target price on VNET Group from $11.80 to $12.60 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Wall Street Zen downgraded VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $9.96.

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.