Hidden Lake Asset Management LP Makes New $6.15 Million Investment in VNET Group, Inc. – Unsponsored ADR $VNET

Hidden Lake Asset Management LP purchased a new stake in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 594,859 shares of the information technology services provider’s stock, valued at approximately $6,145,000. VNET Group comprises about 0.8% of Hidden Lake Asset Management LP’s portfolio, making the stock its 20th largest position.

Several other institutional investors also recently modified their holdings of VNET. Infini Capital Management Ltd increased its holdings in VNET Group by 39.2% in the second quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock valued at $67,331,000 after purchasing an additional 2,747,661 shares during the period. Norges Bank bought a new stake in shares of VNET Group in the 2nd quarter valued at about $54,199,000. Oxbow Capital Management HK Ltd increased its stake in shares of 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 period. Farallon Capital Management LLC increased its stake in shares of VNET Group by 83.3% in the third quarter. Farallon Capital Management LLC now owns 5,489,120 shares of the information technology services provider’s stock valued at $56,703,000 after buying an additional 2,495,000 shares during the period. Finally, UBS Group AG raised its position in shares of VNET Group by 73.2% during the third quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider’s stock worth $44,250,000 after acquiring an additional 1,809,987 shares during the last quarter. Institutional investors own 72.83% of the company’s stock.

VNET Group Trading Down 0.6%

Shares of VNET stock opened at $10.51 on Monday. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $4.65 and a fifty-two week high of $14.48. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day simple moving average of $11.10 and a two-hundred day simple moving average of $9.89. The company has a market cap of $2.83 billion, a P/E ratio of -35.03, a PEG ratio of 0.82 and a beta of 0.01.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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 given a Sell rating to the stock. According to MarketBeat, VNET Group currently has a consensus rating of “Hold” and an average target price of $12.60.

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.