VNET Group (NASDAQ:VNET) Director Sean Shao Sells 60,000 Shares of 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 $10.33 on Thursday. 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 $2.79 billion, a price-to-earnings ratio of -7.54 and a beta of 0.25. The company’s 50-day moving average is $9.19 and its two-hundred day moving average is $9.76. 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 Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in shares of VNET Group by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 1,160 shares in the last quarter. Liontrust Investment Partners LLP boosted its holdings in shares of VNET Group by 40.1% in the 1st quarter. Liontrust Investment Partners LLP now owns 56,929 shares of the information technology services provider’s stock valued at $478,000 after buying an additional 16,286 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of VNET Group by 15.4% in the 1st quarter. Bank of America Corp DE now owns 642,612 shares of the information technology services provider’s stock valued at $5,392,000 after buying an additional 85,780 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of VNET Group in the 1st quarter valued at $1,809,000. Finally, Amundi boosted its holdings in shares of VNET Group by 30.1% in the 1st quarter. Amundi now owns 248,802 shares of the information technology services provider’s stock valued at $2,087,000 after buying an additional 57,616 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

Wall Street Analysts Forecast Growth

VNET has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $16.00 target price on shares of VNET Group in a research note on Wednesday, May 27th. Bank of America set a $16.30 target price on shares of VNET Group and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research note on Friday, March 27th. 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, Wall Street Zen raised shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.