Triasima Portfolio Management inc. Has $216,000 Stock Holdings in VNET Group, Inc. – Unsponsored ADR $VNET

Triasima Portfolio Management inc. lessened its holdings in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 12.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 31,300 shares of the information technology services provider’s stock after selling 4,525 shares during the quarter. Triasima Portfolio Management inc.’s holdings in VNET Group were worth $216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VNET. Canada Pension Plan Investment Board acquired a new stake in shares of VNET Group in the first quarter worth $27,463,000. Taikang Asset Management Hong Kong Co Ltd acquired a new stake in VNET Group during the first quarter valued at $27,210,000. Royal Bank of Canada boosted its position in VNET Group by 2,304,491.9% during the first quarter. Royal Bank of Canada now owns 1,705,398 shares of the information technology services provider’s stock valued at $13,985,000 after purchasing an additional 1,705,324 shares during the last quarter. Candriam S.C.A. acquired a new stake in VNET Group during the first quarter valued at $10,504,000. Finally, KADENSA CAPITAL Ltd acquired a new stake in VNET Group during the first quarter valued at $8,135,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $9.89 on Thursday. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $3.17 and a fifty-two week high of $16.13. The business has a 50-day moving average of $8.84 and a two-hundred day moving average of $7.38. The stock has a market capitalization of $2.66 billion, a P/E ratio of -123.63, a P/E/G ratio of 5.73 and a beta of 0.20. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.97 and a quick ratio of 0.97.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Thursday, August 21st. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). VNET Group had a return on equity of 0.98% and a net margin of 0.74%.The company had revenue of $339.65 million during the quarter, compared to analyst estimates of $2.27 billion. VNET Group has set its FY 2025 guidance at EPS. On average, equities research analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.06 EPS for the current fiscal year.

VNET Group declared that its board has approved a share repurchase program on Friday, June 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VNET. Wall Street Zen raised VNET Group from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Bank of America lifted their price objective on VNET Group from $11.80 to $12.60 and gave the company a “buy” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of VNET Group in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.15.

VNET Group Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.