WT Asset Management Ltd Grows Position in VNET Group, Inc. – Unsponsored ADR $VNET

WT Asset Management Ltd grew its stake in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 700.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,000 shares of the information technology services provider’s stock after buying an additional 350,000 shares during the quarter. WT Asset Management Ltd’s holdings in VNET Group were worth $4,132,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in VNET. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of VNET Group in the second quarter worth approximately $194,000. Envestnet Asset Management Inc. boosted its holdings in VNET Group by 21.5% in the 2nd 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. Aperture Investors LLC bought a new position in VNET Group in the 2nd quarter worth $1,259,000. Infini Capital Management Ltd increased its stake in VNET Group by 39.2% in the 2nd quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock worth $67,331,000 after buying an additional 2,747,661 shares in the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in VNET Group during the second quarter valued at about $558,000. 72.83% of the stock is currently owned by institutional investors.

VNET Group Price Performance

VNET Group stock traded down $0.31 during midday trading on Friday, reaching $12.13. 651,881 shares of the stock traded hands, compared to its average volume of 6,561,228. The stock has a market cap of $3.26 billion, a P/E ratio of -40.73, a PEG ratio of 0.98 and a beta of 0.01. The stock’s fifty day moving average is $10.42 and its 200-day moving average is $9.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88. VNET Group, Inc. – Unsponsored ADR has a 12 month low of $4.65 and a 12 month high of $16.09.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data 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 business had revenue of $362.63 million for the quarter, compared to analysts’ expectations of $335.87 million. VNET Group had a negative return on equity of 3.42% and a negative net margin of 5.99%. As a group, equities research analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VNET. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Wall Street Zen cut shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.