VNET Group, Inc. – Unsponsored ADR $VNET Stock Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. trimmed its holdings in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 88.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,000 shares of the information technology services provider’s stock after selling 1,884,974 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.09% of VNET Group worth $1,332,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Infini Capital Management Ltd purchased a new position in shares of VNET Group in the second quarter worth $38,883,000. Carmignac Gestion grew its position in shares of VNET Group by 1,375.1% during the second quarter. Carmignac Gestion now owns 4,760,599 shares of the information technology services provider’s stock valued at $38,123,000 after purchasing an additional 4,437,879 shares in the last quarter. Senvest Management LLC grew its position in shares of VNET Group by 211.7% during the first quarter. Senvest Management LLC now owns 2,779,637 shares of the information technology services provider’s stock valued at $23,321,000 after purchasing an additional 1,887,883 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. bought a new stake in shares of VNET Group in the second quarter worth about $5,214,000. Finally, FACT Capital LP bought a new stake in shares of VNET Group in the first quarter worth about $4,012,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VNET. Morgan Stanley restated an “overweight” rating and set a $14.00 price target on shares of VNET Group in a report on Wednesday, August 19th. Weiss Ratings cut shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Finally, UBS Group reduced their price target on shares of VNET Group from $13.40 to $6.80 and set a “buy” rating on the stock in a research report on Friday, October 30th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.88.

VNET Group Trading Down 3.6%

VNET traded down $0.11 on Friday, hitting $2.98. The company had a trading volume of 5,763,242 shares, compared to its average volume of 6,941,430. The business’s fifty day simple moving average is $4.91 and its 200 day simple moving average is $7.97. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.35. VNET Group, Inc. – Unsponsored ADR has a 12-month low of $2.88 and a 12-month high of $14.48. The company has a market cap of $806.06 million, a PE ratio of -2.10 and a beta of 0.35.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The company had revenue of $409.00 million for the quarter, compared to analysts’ expectations of $401.77 million. VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. Equities research analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.51 EPS for the current year.

VNET Group Profile

VNET Group, Inc., formerly known as 21Vianet Group, is a Chinese provider of carrier-neutral data center and information technology services. The company operates data centers that support businesses’ computing, storage and connectivity needs. Its services include data center hosting and colocation, managed network services, cloud services and related IT solutions. VNET also provides connectivity between data centers, customers and internet service providers. The company serves enterprises and other organizations in China, with facilities in major markets across the country.