Tidal Investments LLC Boosts Stock Holdings in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Tidal Investments increased its VNET Group stake by 255.2% in the second quarter, acquiring 238,541 additional shares and ending with 332,025 shares valued at approximately $2.67 million.
• Institutional investors own 72.83% of VNET Group, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $16.90.
• VNET shares opened at $5.96, near their 52-week low, after the company reported a quarterly EPS loss of $0.06 that missed estimates, despite revenue of $409 million exceeding expectations.

Tidal Investments LLC increased its stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 255.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,025 shares of the information technology services provider's stock after acquiring an additional 238,541 shares during the period. Tidal Investments LLC owned approximately 0.12% of VNET Group worth $2,669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. grew its stake in VNET Group by 3.0% during the 1st quarter. Sei Investments Co. now owns 37,602 shares of the information technology services provider's stock worth $316,000 after purchasing an additional 1,098 shares in the last quarter. Parallel Advisors LLC raised its position in VNET Group by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 1,160 shares in the last quarter. Personal CFO Solutions LLC raised its position in VNET Group by 4.6% in the 1st quarter. Personal CFO Solutions LLC now owns 37,199 shares of the information technology services provider's stock valued at $312,000 after purchasing an additional 1,637 shares in the last quarter. Main Management ETF Advisors LLC boosted its stake in shares of VNET Group by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 183,222 shares of the information technology services provider's stock valued at $1,550,000 after buying an additional 1,872 shares during the period. Finally, Leonteq Securities AG purchased a new position in shares of VNET Group in the 1st quarter valued at about $25,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VNET has been the topic of a number of recent research reports. Jefferies Financial Group restated a "buy" rating and set a $24.79 target price on shares of VNET Group in a research note on Tuesday, May 26th. Wall Street Zen cut shares of VNET Group from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Bank of America set a $16.30 price objective on shares of VNET Group and gave the company a "buy" rating in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of VNET Group in a report on Tuesday, July 7th. They issued a "buy" rating and a $12.50 price objective on the stock. Finally, Zacks Research raised shares of VNET Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.90.

VNET Group Trading Down 3.2%

VNET opened at $5.96 on Wednesday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97. VNET Group, Inc. - Unsponsored ADR has a one year low of $5.91 and a one year high of $14.48. The company has a market cap of $1.61 billion, a P/E ratio of -4.20 and a beta of 0.27. The business's 50-day simple moving average is $7.05 and its 200-day simple moving average is $8.43.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. The business had revenue of $409.00 million during the quarter, compared to analyst estimates of $401.77 million. As a group, equities research analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.27 EPS for the current fiscal year.

VNET Group Company Profile

VNET Group, Inc NASDAQ: VNET, formerly known as 21Vianet Group, is a China-based provider of data center and information technology infrastructure services. The company operates carrier-neutral data centers that support enterprise customers, cloud service providers, internet companies, financial institutions and other organizations requiring secure, reliable computing and network capacity.

Its services include data center hosting and colocation, managed network services, cloud computing infrastructure, internet connectivity, content delivery and related information technology solutions.

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