Vanguard Group Inc. Has $45.06 Million Position in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• Vanguard Group Inc. increased its stake in VNET Group by 5.3%, acquiring an additional 278,496 shares, bringing its total ownership to approximately 5.5 million shares valued at $45.06 million.
• VNET Group reported a net loss of $0.01 per share for the last quarter, missing analysts' expectations, with revenue significantly lower than forecasts at $339.65 million.
• The company’s stock has experienced a recent decline of 5.4%, with a consensus rating of "Buy" from analysts and a target price set at $9.96.

Vanguard Group Inc. boosted its holdings in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,495,446 shares of the information technology services provider's stock after purchasing an additional 278,496 shares during the period. Vanguard Group Inc. owned about 2.13% of VNET Group worth $45,063,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of VNET. Renaissance Technologies LLC bought a new position in shares of VNET Group in the 4th quarter valued at $250,000. Barclays PLC lifted its stake in shares of VNET Group by 229.3% in the 4th 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. Marshall Wace LLP bought a new position in shares of VNET Group in the 4th quarter valued at $1,514,000. Tower Research Capital LLC TRC bought a new position in shares of VNET Group in the 4th quarter valued at $80,000. Finally, Hsbc Holdings PLC bought a new position in shares of VNET Group in the 4th quarter valued at $66,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Trading Up 1.5%

NASDAQ:VNET traded up $0.13 during trading hours on Friday, hitting $8.66. 14,146,947 shares of the company were exchanged, compared to its average volume of 5,248,658. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -108.25, a price-to-earnings-growth ratio of 6.02 and a beta of 0.16. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.40. VNET Group, Inc. - Unsponsored ADR has a one year low of $2.25 and a one year high of $16.13. The company has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $7.74.

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 (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $339.65 million for 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. Sell-side analysts expect 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 share 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 purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

VNET has been the subject of a number of research reports. Bank of America increased their price target on VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a research note on Friday, August 22nd. Wall Street Zen cut VNET Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 23rd. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $9.96.

VNET Group Company 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.