Candriam S.C.A. Invests $19.85 Million in VNET Group, Inc. – Unsponsored ADR $VNET

Candriam S.C.A. acquired a new stake in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,922,000 shares of the information technology services provider’s stock, valued at approximately $19,854,000. Candriam S.C.A. owned approximately 0.71% of VNET Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. purchased a new position in VNET Group in the 2nd quarter worth approximately $74,000. Wallace Advisory Group LLC bought a new position in shares of VNET Group in the second quarter worth approximately $83,000. FNY Investment Advisers LLC purchased a new stake in shares of VNET Group in the second quarter worth $32,000. Valliance Asset Management Ltd raised its position in shares of VNET Group by 35.5% during the 2nd quarter. Valliance Asset Management Ltd now owns 270,900 shares of the information technology services provider’s stock valued at $1,869,000 after purchasing an additional 70,900 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of VNET Group by 103.5% during the 2nd quarter. Asset Management One Co. Ltd. now owns 26,469 shares of the information technology services provider’s stock valued at $183,000 after purchasing an additional 13,461 shares during the period. Institutional investors own 72.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.30.

VNET Group Stock Performance

Shares of VNET stock opened at $11.85 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. The company has a market cap of $3.19 billion and a PE ratio of -39.50. VNET Group, Inc. – Unsponsored ADR has a 12-month low of $4.65 and a 12-month high of $16.13. The business’s fifty day simple moving average is $9.76 and its 200-day simple moving average is $9.27.

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

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.