VNET Group (NASDAQ:VNET) SVP Zhihua Zhang Sells 28,740 Shares of Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) SVP Zhihua Zhang sold 28,740 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $0.55, for a total transaction of $15,807.00. Following the transaction, the senior vice president directly owned 84,384 shares in the company, valued at $46,411.20. The trade was a 25.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

VNET Group Stock Down 0.7%

Shares of NASDAQ VNET opened at $2.98 on Wednesday. VNET Group, Inc. – Unsponsored ADR has a 1 year low of $2.91 and a 1 year high of $14.48. The firm’s 50 day moving average price is $5.42 and its 200 day moving average price is $8.27. The firm has a market cap of $806.06 million, a P/E ratio of -2.10 and a beta of 0.35. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97.

VNET Group (NASDAQ:VNET) last released its earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The firm had revenue of $409.00 million during the quarter, compared to analysts’ expectations of $401.77 million. VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. As a group, sell-side analysts anticipate that VNET Group, Inc. – Unsponsored ADR will post -0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on VNET shares. UBS Group decreased their price target on VNET Group from $13.40 to $6.80 and set a “buy” rating on the stock in a research note on Friday. Weiss Ratings cut VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of VNET Group in a research note on Tuesday, July 7th. They set a “buy” rating and a $12.50 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $14.00 price objective on shares of VNET Group in a report on Wednesday, August 19th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.88.

Institutional Trading of VNET Group

A number of institutional investors and hedge funds have recently bought and sold shares of VNET. Parallel Advisors LLC increased its position in shares of VNET Group by 173.0% in the third quarter. Parallel Advisors LLC now owns 11,833 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 7,498 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of VNET Group in the 3rd quarter valued at $85,000. Asset Management One Co. Ltd. raised its stake in shares of VNET Group by 26.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 36,829 shares of the information technology services provider’s stock valued at $204,000 after acquiring an additional 7,752 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of VNET Group in the 3rd quarter valued at $62,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of VNET Group during the 3rd quarter valued at $147,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

About VNET Group

VNET Group, Inc (NASDAQ:VNET), formerly known as 21Vianet Group, is a provider of data center and information technology infrastructure services in China. Founded in 1999, the company operates carrier-neutral data centers that allow customers to house servers and other equipment while connecting to multiple telecommunications and internet networks.

VNET’s services include data center hosting, cloud computing, managed network services, internet connectivity, content delivery and hybrid cloud solutions.