VNET Group (NASDAQ:VNET) SVP Zhihua Zhang Sells 28,740 Shares of Company Stock

Key Points

• VNET Group SVP Zhihua Zhang sold 28,740 shares at an average price of $0.55, generating $15,807 and reducing his ownership by 25.41% to 84,384 shares.
• VNET shares were trading at $3.00, near their 12-month low of $2.97, and had declined 6.8%. The company reported a quarterly EPS loss of $0.06, missing estimates, despite revenue exceeding expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $14.88, while institutional investors own 72.83% of the stock.

VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) SVP Zhihua Zhang sold 28,740 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $0.55, for a total value of $15,807.00. Following the completion of the sale, the senior vice president owned 84,384 shares in the company, valued at approximately $46,411.20. The trade was a 25.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

VNET Group Trading Down 6.8%

VNET opened at $3.00 on Tuesday. The business has a fifty day moving average price of $5.49 and a 200 day moving average price of $8.31. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.97 and a quick ratio of 0.97. VNET Group, Inc. - Unsponsored ADR has a 12 month low of $2.97 and a 12 month high of $14.48. The stock has a market capitalization of $811.47 million, a price-to-earnings ratio of -2.11 and a beta of 0.36.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $409.00 million during the quarter, compared to analysts' expectations of $401.77 million. Sell-side analysts expect that VNET Group, Inc. - Unsponsored ADR will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VNET shares. Weiss Ratings cut VNET Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, September 1st. Morgan Stanley reaffirmed an "overweight" rating and set a $14.00 price objective on shares of VNET Group in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft initiated coverage on VNET Group in a report on Tuesday, July 7th. They issued a "buy" rating and a $12.50 price objective on the stock. Finally, UBS Group cut their target price on VNET Group from $13.40 to $6.80 and set a "buy" rating on the stock in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $14.88.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VNET. The Manufacturers Life Insurance Company lifted its stake in VNET Group by 20.4% in the first quarter. The Manufacturers Life Insurance Company now owns 2,623,594 shares of the information technology services provider's stock valued at $22,012,000 after buying an additional 443,656 shares during the last quarter. FACT Capital LP purchased a new position in shares of VNET Group during the first quarter worth approximately $4,012,000. Infini Capital Management Ltd purchased a new position in shares of VNET Group during the second quarter worth approximately $38,883,000. Janus Henderson Group PLC purchased a new position in shares of VNET Group during the first quarter worth approximately $1,809,000. Finally, Regal Partners Ltd acquired a new position in shares of VNET Group in the 1st quarter valued at $3,095,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

VNET Group Company Profile

VNET Group, Inc NASDAQ: VNET, formerly known as 21Vianet Group, is a provider of data center and information technology infrastructure services in China. Founded in 1999, the company operates carrier-neutral data centers that allow customers to house servers and other equipment while connecting to multiple telecommunications and internet networks.

VNET's services include data center hosting, cloud computing, managed network services, internet connectivity, content delivery and hybrid cloud solutions.

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