Hel Ved Capital Management Ltd Invests $4.60 Million in VNET Group, Inc. – Unsponsored ADR $VNET

Hel Ved Capital Management Ltd acquired a new stake in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 444,900 shares of the information technology services provider’s stock, valued at approximately $4,596,000. VNET Group makes up approximately 1.0% of Hel Ved Capital Management Ltd’s holdings, making the stock its 25th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VNET. Barclays PLC increased its holdings in shares of VNET Group by 32.5% in the third quarter. Barclays PLC now owns 643,474 shares of the information technology services provider’s stock worth $6,647,000 after acquiring an additional 157,993 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of VNET Group by 6.1% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 21,491 shares of the information technology services provider’s stock valued at $222,000 after purchasing an additional 1,237 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of VNET Group by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 850,304 shares of the information technology services provider’s stock valued at $8,784,000 after purchasing an additional 13,589 shares during the period. William Blair Investment Management LLC bought a new stake in VNET Group during the 3rd quarter worth approximately $15,951,000. Finally, American Century Companies Inc. raised its holdings in VNET Group by 180.3% during the 3rd quarter. American Century Companies Inc. now owns 1,711,976 shares of the information technology services provider’s stock worth $17,685,000 after buying an additional 1,101,137 shares during the period. 72.83% of the stock is currently owned by institutional investors.

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. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.30.

VNET Group Stock Down 1.8%

VNET stock opened at $9.62 on Friday. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $2.59 billion, a P/E ratio of -32.07, a P/E/G ratio of 0.77 and a beta of 0.01. VNET Group, Inc. – Unsponsored ADR has a fifty-two week low of $4.65 and a fifty-two week high of $14.48. The business has a 50-day moving average of $10.89 and a 200-day moving average of $9.76.

VNET Group 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.