Point72 Europe London LLP Makes New $2.61 Million Investment in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Point72 Europe London LLP acquired 318,400 shares of VNET Group, Inc. valued at approximately $2.61 million, representing about 0.12% ownership of the company.
• VNET Group has faced a downgrade from "hold" to "sell" by analysts, while Bank of America upgraded the stock's price target from $11.80 to $12.60 with a "buy" rating.
• The company's recent earnings report indicated a loss of ($0.01) earnings per share, missing expectations, and it had a market cap of $2.33 billion.

Point72 Europe London LLP acquired a new position in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 318,400 shares of the information technology services provider's stock, valued at approximately $2,611,000. Point72 Europe London LLP owned approximately 0.12% of VNET Group as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of VNET. Quantbot Technologies LP bought a new stake in shares of VNET Group in the first quarter worth about $36,000. Summit Securities Group LLC bought a new stake in shares of VNET Group during the first quarter worth approximately $40,000. Barclays PLC boosted its stake in shares of 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 buying an additional 4,939 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in VNET Group during the fourth quarter valued at approximately $41,000. Finally, Liontrust Investment Partners LLP bought a new stake in shares of VNET Group during the 1st quarter valued at approximately $78,000. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Price Performance

VNET stock traded down $0.06 during trading on Wednesday, hitting $8.00. 2,878,720 shares of the company's stock traded hands, compared to its average volume of 5,129,053. VNET Group, Inc. - Unsponsored ADR has a 52 week low of $2.66 and a 52 week high of $16.13. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.97 and a current ratio of 0.97. The business has a fifty day simple moving average of $7.92 and a 200 day simple moving average of $7.72. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -100.00, a P/E/G ratio of 6.02 and a beta of 0.16.

VNET Group (NASDAQ:VNET - Get Free Report) last released its quarterly earnings results 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 return on equity of 0.98% and a net margin of 0.74%.The firm had revenue of $339.65 million for the quarter, compared to analysts' expectations of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. As a group, research analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current fiscal year.

VNET Group declared that its Board of Directors has initiated a stock buyback program on Friday, June 27th that allows the company to buyback $0.00 in shares. This buyback authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VNET shares. Wall Street Zen cut shares of VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 23rd. Bank of America increased their price target on VNET Group from $11.80 to $12.60 and gave the stock a "buy" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.