Portolan Capital Management LLC Purchases New Position in VNET Group, Inc. – Unsponsored ADR $VNET

Portolan Capital Management LLC acquired a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 567,466 shares of the information technology services provider’s stock, valued at approximately $5,862,000. Portolan Capital Management LLC owned approximately 0.21% of VNET Group at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Infini Capital Management Ltd increased its position in shares of VNET Group by 39.2% during 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 in the last quarter. Norges Bank acquired a new position in VNET Group during the second quarter worth approximately $54,199,000. Oxbow Capital Management HK Ltd lifted its stake in VNET Group by 64.3% in the second quarter. Oxbow Capital Management HK Ltd now owns 5,750,000 shares of the information technology services provider’s stock valued at $39,675,000 after buying an additional 2,250,000 shares during the last quarter. UBS Group AG lifted its stake in VNET Group by 73.2% in the third quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider’s stock valued at $44,250,000 after buying an additional 1,809,987 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of 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 valued at $23,067,000 after acquiring an additional 2,911,604 shares during the period. Institutional investors and hedge funds own 72.83% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, VNET Group has a consensus rating of “Hold” and an average price target of $12.60.

VNET Group Stock Performance

Shares of VNET opened at $10.51 on Friday. The stock has a market capitalization of $2.83 billion, a P/E ratio of -35.03, a P/E/G ratio of 0.82 and a beta of 0.01. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.90 and a current ratio of 0.90. VNET Group, Inc. – Unsponsored ADR has a 1 year low of $4.65 and a 1 year high of $14.48. The company’s fifty day moving average is $11.10 and its two-hundred day moving average is $9.86.

VNET Group Company 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.