VNET Group, Inc. - Unsponsored ADR $VNET Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC reduced its stake in VNET Group by 43.5%, now holding 160,003 shares, valued at approximately $1.31 million.
• VNET Group's stock has seen a 6.9% decline, with a current trading price of $8.06 and a market capitalization of $2.17 billion.
• Analysts have varied opinions on VNET Group, with Bank of America raising its price target to $12.60, while Wall Street Zen downgraded it to a "sell" rating.

Vident Advisory LLC trimmed its stake in shares of VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 43.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,003 shares of the information technology services provider's stock after selling 123,293 shares during the period. Vident Advisory LLC owned about 0.06% of VNET Group worth $1,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in shares of VNET Group during the 1st quarter valued at approximately $36,000. Summit Securities Group LLC acquired a new stake in shares of VNET Group during the 1st quarter valued at approximately $40,000. Barclays PLC increased its holdings in VNET Group by 229.3% during 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 in the last quarter. Invesco Ltd. increased its holdings in VNET Group by 7.1% during the 1st quarter. Invesco Ltd. now owns 119,104 shares of the information technology services provider's stock valued at $977,000 after acquiring an additional 7,881 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in VNET Group during the 4th quarter valued at about $41,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Trading Up 3.4%

VNET stock traded up $0.26 during midday trading on Friday, hitting $7.90. The stock had a trading volume of 10,674,281 shares, compared to its average volume of 5,266,907. The firm has a market cap of $2.12 billion, a PE ratio of -98.75, a price-to-earnings-growth ratio of 5.31 and a beta of 0.16. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97. VNET Group, Inc. - Unsponsored ADR has a 12-month low of $2.66 and a 12-month high of $16.13. The company's 50-day moving average price is $7.97 and its 200 day moving average price is $7.66.

VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. On average, equities research 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 initiated a share repurchase plan on Friday, June 27th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the information technology services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

VNET has been the subject of several recent research reports. Wall Street Zen downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. Bank of America raised their target price on shares of VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a report on Friday, August 22nd. Two 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 a consensus rating of "Buy" and an average target price of $9.96.

About VNET Group

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.