Sean Shao Sells 60,000 Shares of VNET Group (NASDAQ:VNET) Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Director Sean Shao sold 60,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.71, for a total transaction of $102,600.00. Following the completion of the transaction, the director owned 983,820 shares in the company, valued at $1,682,332.20. The trade was a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

VNET Group Stock Performance

NASDAQ:VNET opened at $10.78 on Wednesday. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -7.87 and a beta of 0.25. The company’s 50-day moving average is $9.13 and its two-hundred day moving average is $9.73. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $5.31 and a 1-year high of $14.48.

VNET Group (NASDAQ:VNET) last posted its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($1.17). The firm had revenue of $390.32 million during the quarter, compared to analyst estimates of $388.47 million. VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. Analysts forecast that VNET Group, Inc. – Unsponsored ADR will post 0.23 EPS for the current year.

Institutional Investors Weigh In On VNET Group

A number of institutional investors and hedge funds have recently made changes to their positions in VNET. Geode Capital Management LLC raised its stake in shares of VNET Group by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 241,964 shares of the information technology services provider’s stock valued at $1,670,000 after acquiring an additional 7,489 shares during the period. JPMorgan Chase & Co. raised its stake in shares of VNET Group by 1,201.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 511,417 shares of the information technology services provider’s stock valued at $3,529,000 after acquiring an additional 472,115 shares during the period. Quantbot Technologies LP increased its stake in VNET Group by 333.0% during the 2nd quarter. Quantbot Technologies LP now owns 18,805 shares of the information technology services provider’s stock worth $130,000 after buying an additional 14,462 shares during the period. EverSource Wealth Advisors LLC increased its stake in VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after buying an additional 1,426 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in VNET Group during the 2nd quarter worth approximately $3,568,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VNET has been the topic of a number of research analyst reports. Wall Street Zen raised shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Bank of America set a $16.30 price target on shares of VNET Group and gave the company a “buy” rating in a research note on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating and issued a $24.79 price target on shares of VNET Group in a research note on Tuesday, May 26th. Zacks Research raised shares of VNET Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.03.

VNET Group Company 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.