VNET Group, Inc. – Unsponsored ADR $VNET Position Lifted by Senvest Management LLC

Senvest Management LLC grew its stake in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 211.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,779,637 shares of the information technology services provider’s stock after purchasing an additional 1,887,883 shares during the quarter. Senvest Management LLC’s holdings in VNET Group were worth $23,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of VNET. Leonteq Securities AG bought a new position in shares of VNET Group during the first quarter worth about $25,000. Global Retirement Partners LLC bought a new stake in VNET Group in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC increased its holdings in VNET Group by 52.2% in the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 1,426 shares during the last quarter. Parallel Advisors LLC raised its stake in VNET Group by 26.8% during the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 1,160 shares in the last quarter. Finally, Allianz SE acquired a new stake in VNET Group during the fourth quarter valued at approximately $50,000. Institutional investors own 72.83% of the company’s stock.

VNET Group Price Performance

VNET opened at $7.21 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. The company’s 50-day moving average price is $8.77 and its 200 day moving average price is $9.62. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $7.10 and a fifty-two week high of $14.48. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -5.26 and a beta of 0.28.

VNET Group (NASDAQ:VNET) last issued its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. The company had revenue of $390.32 million during the quarter, compared to analyst estimates of $388.47 million. As a group, sell-side analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

VNET has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of VNET Group in a report on Wednesday, July 15th. Bank of America set a $16.30 price target on VNET Group and gave the company a “buy” rating in a report on Tuesday, May 26th. Morgan Stanley reissued an “overweight” rating and set a $16.00 price target on shares of VNET Group in a research report on Wednesday, May 27th. Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of VNET Group in a report on Tuesday, July 7th. They issued a “buy” rating and a $12.50 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.40.

Insider Buying and Selling at VNET Group

In related news, Director Sean Shao sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the sale, the director owned 983,820 shares of the company’s stock, valued at approximately $1,682,332.20. This trade represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.10% of the company’s stock.

VNET Group Profile

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.