WT Asset Management Ltd Invests $345,000 in VNET Group, Inc. - Unsponsored ADR $VNET

Key Points

• WT Asset Management Ltd has invested approximately $345,000 in VNET Group, acquiring 50,000 shares of the information technology services provider.
• VNET Group has seen substantial interest from other institutional investors, with Mirae Asset Global Investments increasing its stake by 111.0% and multiple firms acquiring new stakes in the company.
• VNET Group recently reported losses in earnings and has set FY 2025 guidance at negative EPS, causing analysts to adjust their price targets and ratings.

WT Asset Management Ltd bought a new stake in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 50,000 shares of the information technology services provider's stock, valued at approximately $345,000.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of VNET Group by 111.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,197 shares of the information technology services provider's stock valued at $670,000 after buying an additional 42,710 shares in the last quarter. Amundi acquired a new stake in shares of VNET Group in the first quarter valued at about $5,093,000. Oppenheimer & Co. Inc. acquired a new stake in shares of VNET Group in the first quarter valued at about $207,000. Deutsche Bank AG acquired a new stake in shares of VNET Group in the first quarter valued at about $706,000. Finally, Nuveen LLC acquired a new stake in shares of VNET Group in the first quarter valued at about $320,000. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Price Performance

Shares of NASDAQ VNET opened at $10.58 on Friday. VNET Group, Inc. - Unsponsored ADR has a fifty-two week low of $3.17 and a fifty-two week high of $16.13. The business has a 50 day moving average price of $8.72 and a two-hundred day moving average price of $7.36. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.40. The firm has a market cap of $2.85 billion, a PE ratio of -132.25, a price-to-earnings-growth ratio of 6.48 and a beta of 0.20.

VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). VNET Group had a net margin of 0.74% and a return on equity of 0.98%. The business had revenue of $339.65 million for the quarter, compared to analyst estimates of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. Sell-side analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

VNET Group declared that its board has approved a share repurchase program on Friday, June 27th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the information technology services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently issued reports on VNET. Weiss Ratings reiterated a "sell (d+)" rating on shares of VNET Group in a research note on Saturday, September 27th. Bank of America increased their target price on VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a research note on Friday, August 22nd. Finally, Wall Street Zen upgraded VNET Group from a "sell" rating to a "hold" rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, VNET Group has an average rating of "Buy" and a consensus price target 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.

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