Royal Bank of Canada Raises Position in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• The Royal Bank of Canada increased its holdings in VNET Group by over 2 million percent, acquiring a total of 1,705,398 shares valued at approximately $13.99 million.
• VNET Group reported a quarterly loss of ($0.01) EPS, missing analyst estimates and generating revenue of only $339.65 million, significantly below the expected $2.27 billion.
• Institutional investors hold 72.83% of VNET Group's stock, indicating strong institutional interest in the company despite recent challenges.

Royal Bank of Canada raised its stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 2,304,491.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,705,398 shares of the information technology services provider's stock after buying an additional 1,705,324 shares during the period. Royal Bank of Canada owned about 0.66% of VNET Group worth $13,985,000 as of its most recent SEC filing.

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

VNET Group Price Performance

NASDAQ:VNET remained flat at $9.59 on Tuesday. The company's stock had a trading volume of 6,463,713 shares, compared to its average volume of 6,690,232. The company's 50 day moving average price is $8.18 and its two-hundred day moving average price is $7.41. The company has a market cap of $2.58 billion, a P/E ratio of -119.88, a PEG ratio of 6.11 and a beta of 0.16. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.97 and a current ratio of 0.97. VNET Group, Inc. - Unsponsored ADR has a 1-year low of $2.74 and a 1-year 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The firm had revenue of $339.65 million during the quarter, compared to the consensus estimate of $2.27 billion. VNET Group had a return on equity of 0.98% and a net margin of 0.74%. VNET Group has set its FY 2025 guidance at EPS. Equities analysts predict that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

VNET Group announced that its board has approved a stock repurchase 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 repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VNET shares. Bank of America lifted their price objective 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 report on Saturday, August 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target 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.