VNET Group, Inc. – Unsponsored ADR $VNET Stock Position Lifted by Farallon Capital Management LLC

Farallon Capital Management LLC lifted its position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 83.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,489,120 shares of the information technology services provider’s stock after acquiring an additional 2,495,000 shares during the period. Farallon Capital Management LLC’s holdings in VNET Group were worth $56,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in VNET. BlueCrest Capital Management Ltd acquired a new stake in shares of VNET Group during the third quarter worth $331,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of VNET Group in the 3rd quarter valued at about $564,000. Alden Global Capital LLC bought a new stake in shares of VNET Group during the 3rd quarter valued at about $10,153,000. Raymond James Financial Inc. raised its stake in VNET Group by 14.5% during the third quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock worth $118,000 after acquiring an additional 1,446 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in VNET Group during the third quarter worth about $123,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Down 0.6%

VNET opened at $10.51 on Monday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $2.83 billion, a PE ratio of -35.03, a P/E/G ratio of 0.82 and a beta of 0.01. The stock’s fifty day moving average is $11.10 and its 200-day moving average is $9.89. VNET Group, Inc. – Unsponsored ADR has a one year low of $4.65 and a one year high of $14.48.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.60.

About VNET Group

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.