Eschler Asset Management LLP Purchases Shares of 63,026 VNET Group, Inc. – Unsponsored ADR $VNET

Eschler Asset Management LLP purchased a new position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 63,026 shares of the information technology services provider’s stock, valued at approximately $651,000.

Other large investors have also modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in VNET Group during the 2nd quarter valued at approximately $194,000. Envestnet Asset Management Inc. lifted its stake in shares of VNET Group by 21.5% during the second quarter. Envestnet Asset Management Inc. now owns 244,888 shares of the information technology services provider’s stock worth $1,690,000 after buying an additional 43,392 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of VNET Group during the third quarter valued at $15,951,000. GSA Capital Partners LLP grew its holdings in shares of VNET Group by 110.3% during the third quarter. GSA Capital Partners LLP now owns 236,240 shares of the information technology services provider’s stock valued at $2,440,000 after buying an additional 123,901 shares during the last quarter. Finally, DNB Asset Management AS acquired a new position in shares of VNET Group in the 3rd quarter valued at $1,744,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Trading Down 5.2%

NASDAQ VNET opened at $10.57 on Friday. VNET Group, Inc. – Unsponsored ADR has a 1 year low of $4.65 and a 1 year high of $14.48. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $2.84 billion, a PE ratio of -35.23, a P/E/G ratio of 0.87 and a beta of 0.01. The company has a fifty day moving average of $11.07 and a 200 day moving average of $9.84.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, VNET Group presently has a consensus rating of “Hold” and an average target price of $16.30.

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.