Dorsey Wright & Associates Buys 93,071 Shares of VNET Group, Inc. – Unsponsored ADR $VNET

Dorsey Wright & Associates increased its position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 41.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,553 shares of the information technology services provider’s stock after purchasing an additional 93,071 shares during the quarter. Dorsey Wright & Associates owned approximately 0.12% of VNET Group worth $2,647,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Leonteq Securities AG purchased a new position in shares of VNET Group in the 1st quarter valued at $25,000. Global Retirement Partners LLC acquired a new position in shares of VNET Group in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC increased its holdings in shares of VNET Group by 52.2% in the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 1,426 shares during the period. Allianz SE acquired a new position in VNET Group in the 4th quarter worth approximately $50,000. Finally, Headlands Technologies LLC purchased a new position in shares of VNET Group during the second quarter worth $55,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Stock Down 4.3%

VNET Group stock opened at $7.39 on Friday. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $7.10 and a 1-year high of $14.48. The stock has a market cap of $2.00 billion, a PE ratio of -5.39 and a beta of 0.28. The stock’s fifty day moving average is $9.00 and its two-hundred day moving average is $9.65.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). The company had revenue of $390.32 million during the quarter, compared to analysts’ expectations of $388.47 million. VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. On average, sell-side analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.24 EPS for the current fiscal year.

Insider Transactions at VNET Group

In other VNET Group news, Director Sean Shao sold 60,000 shares of the company’s stock in a transaction on 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 approximately $1,682,332.20. This represents a 5.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.10% of the company’s stock.

Analysts Set New Price Targets

VNET has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $24.79 price objective on shares of VNET Group in a report on Tuesday, May 26th. Morgan Stanley reissued an “overweight” rating and issued a $16.00 price objective on shares of VNET Group in a research note on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of VNET Group in a report on Wednesday. Zacks Research upgraded VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.40.

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.