Senvest Management LLC Grows Position in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Senvest Management significantly increased its stake in VNET Group, boosting holdings by 211.7% in the first quarter to 2.78 million shares, worth about $23.3 million.
• Analyst sentiment is mixed but generally positive, with four Buy ratings, one Hold, and one Sell; the stock’s consensus target price is $17.40, well above its recent trading level.
• VNET’s latest results disappointed on earnings, reporting a loss of $1.20 per share versus expectations for a much smaller loss, even though revenue slightly beat estimates at $390.3 million.

Senvest Management LLC boosted its holdings in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 211.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,779,637 shares of the information technology services provider's stock after buying an additional 1,887,883 shares during the period. Senvest Management LLC owned approximately 1.03% of VNET Group worth $23,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Leonteq Securities AG purchased a new position in shares of VNET Group in the 1st quarter valued at $25,000. Global Retirement Partners LLC purchased a new stake in VNET Group during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 1,426 shares during the period. Parallel Advisors LLC boosted its position in VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider's stock worth $46,000 after purchasing an additional 1,160 shares during the period. Finally, Allianz SE acquired a new stake in VNET Group in the 4th quarter valued at $50,000. 72.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on VNET. Morgan Stanley reissued an "overweight" rating and issued a $16.00 price objective on shares of VNET Group in a research report on Wednesday, May 27th. Bank of America set a $16.30 target price on VNET Group and gave the company a "buy" rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft started coverage on VNET Group in a report on Tuesday, July 7th. They set a "buy" rating and a $12.50 target price on the stock. Zacks Research raised VNET Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of VNET Group in a research report on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, VNET Group presently has an average rating of "Moderate Buy" and a consensus price target of $17.40.

VNET Group Stock Performance

Shares of VNET stock opened at $7.21 on Friday. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99. The company's fifty day moving average price is $8.77 and its two-hundred day moving average price is $9.62. The firm has a market capitalization of $1.95 billion, a P/E ratio of -5.26 and a beta of 0.28. VNET Group, Inc. - Unsponsored ADR has a 12 month low of $7.10 and a 12 month high of $14.48.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($1.17). VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. The business had revenue of $390.32 million for the quarter, compared to analyst estimates of $388.47 million. On average, research analysts anticipate that VNET Group, Inc. - Unsponsored ADR will post -0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other VNET Group news, Director Sean Shao sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.71, for a total transaction of $102,600.00. Following the completion of the sale, the director owned 983,820 shares in the company, valued at $1,682,332.20. This trade represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.10% of the stock is currently owned by company insiders.

VNET Group Profile

VNET Group, Inc NASDAQ: VNET is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company's product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.

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