444,900 Shares in VNET Group, Inc. – Unsponsored ADR $VNET Acquired by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd acquired a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 444,900 shares of the information technology services provider’s stock, valued at approximately $4,596,000. VNET Group makes up 1.0% of Hel Ved Capital Management Ltd’s holdings, making the stock its 25th biggest holding. Hel Ved Capital Management Ltd owned approximately 0.17% of VNET Group as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of VNET. Norges Bank bought a new stake in shares of VNET Group during the second quarter worth $54,199,000. BNP Paribas Financial Markets increased its position in VNET Group by 674.8% in the second quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock worth $23,067,000 after purchasing an additional 2,911,604 shares during the period. Infini Capital Management Ltd increased its position in VNET Group by 39.2% in the second quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock worth $67,331,000 after purchasing an additional 2,747,661 shares during the period. Oxbow Capital Management HK Ltd raised its holdings in VNET Group by 64.3% during the 2nd quarter. Oxbow Capital Management HK Ltd now owns 5,750,000 shares of the information technology services provider’s stock worth $39,675,000 after purchasing an additional 2,250,000 shares during the last quarter. Finally, Candriam S.C.A. acquired a new position in VNET Group during the 3rd quarter valued at about $19,854,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Trading Down 1.8%

NASDAQ:VNET opened at $9.62 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $4.65 and a 1-year high of $14.48. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -32.07, a PEG ratio of 0.77 and a beta of 0.01. The business’s 50-day moving average price is $10.89 and its two-hundred day moving average price is $9.76.

Wall Street Analysts Forecast Growth

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

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.