Y Intercept Hong Kong Ltd Reduces Stock Holdings in VNET Group, Inc. – Unsponsored ADR $VNET

Y Intercept Hong Kong Ltd decreased its holdings in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 54.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,808 shares of the information technology services provider’s stock after selling 213,424 shares during the period. Y Intercept Hong Kong Ltd owned about 0.07% of VNET Group worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of VNET. EverSource Wealth Advisors LLC lifted its position in shares of 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. Public Employees Retirement System of Ohio boosted its stake in shares of VNET Group by 16.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock worth $101,000 after buying an additional 2,100 shares during the last quarter. Bingham Private Wealth LLC lifted its holdings in VNET Group by 24.3% during the second quarter. Bingham Private Wealth LLC now owns 13,050 shares of the information technology services provider’s stock valued at $90,000 after purchasing an additional 2,547 shares during the last quarter. Main Management ETF Advisors LLC boosted its stake in VNET Group by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 168,548 shares of the information technology services provider’s stock valued at $1,163,000 after buying an additional 2,736 shares during the period. Finally, Personal CFO Solutions LLC lifted its holdings in shares of VNET Group by 9.3% in the 2nd quarter. Personal CFO Solutions LLC now owns 34,505 shares of the information technology services provider’s stock worth $238,000 after acquiring an additional 2,933 shares during the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Stock Performance

VNET Group stock opened at $11.00 on Friday. The company has a market cap of $2.96 billion, a P/E ratio of -36.67, a price-to-earnings-growth ratio of 0.89 and a beta of -0.02. The firm’s 50 day simple moving average is $9.48 and its 200-day simple moving average is $9.15. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $4.65 and a fifty-two week high of $16.13. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $362.63 million during the quarter, compared to analyst estimates of $335.87 million. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. As a group, equities research analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, VNET Group currently has a consensus rating of “Moderate Buy” and a consensus price target 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.