VNET Group, Inc. – Unsponsored ADR $VNET Shares Purchased by Pinpoint Asset Management Singapore Pte. Ltd.

Pinpoint Asset Management Singapore Pte. Ltd. boosted its holdings in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 1,849.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 764,056 shares of the information technology services provider’s stock after buying an additional 724,865 shares during the quarter. VNET Group accounts for about 1.3% of Pinpoint Asset Management Singapore Pte. Ltd.’s investment portfolio, making the stock its 15th largest position. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in VNET Group were worth $6,464,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC boosted its holdings in shares of VNET Group by 6.1% in the third quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider’s stock worth $222,000 after buying an additional 1,237 shares during the period. EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 1,426 shares in the last quarter. Raymond James Financial Inc. grew its position in VNET Group by 14.5% during the 3rd quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock worth $118,000 after purchasing an additional 1,446 shares in the last quarter. Farther Finance Advisors LLC grew its position in VNET Group by 13.3% during the 4th quarter. Farther Finance Advisors LLC now owns 13,689 shares of the information technology services provider’s stock worth $116,000 after purchasing an additional 1,611 shares in the last quarter. Finally, Main Management ETF Advisors LLC grew its position in VNET Group by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 183,222 shares of the information technology services provider’s stock worth $1,550,000 after purchasing an additional 1,872 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Trading Down 0.9%

NASDAQ VNET opened at $8.87 on Friday. The firm’s 50 day moving average price is $9.26 and its two-hundred day moving average price is $9.78. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99. VNET Group, Inc. – Unsponsored ADR has a twelve month low of $5.31 and a twelve month high of $14.48. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -6.47 and a beta of 0.25.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $388.47 million. Equities analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post 0.24 EPS for the current year.

Insider Buying and Selling at VNET Group

In other news, Director Sean Shao sold 60,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.71, for a total transaction of $102,600.00. Following the transaction, the director directly owned 983,820 shares in the company, valued at $1,682,332.20. The trade was a 5.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Lifeng Chen sold 83,544 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $1.51, for a total transaction of $126,151.44. Following the transaction, the director owned 334,164 shares in the company, valued at approximately $504,587.64. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 152,616 shares of company stock worth $244,083. 12.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VNET has been the topic of several research analyst reports. Bank of America set a $16.30 price objective on shares of VNET Group and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Morgan Stanley reiterated an “overweight” rating and set a $16.00 price objective on shares of VNET Group in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $24.79 price objective on shares of VNET Group in a research report on Tuesday, May 26th. Three research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.03.

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.