VNET Group (NASDAQ:VNET) Director Sells $102,600.00 in Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Director Sean Shao sold 60,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.71, for a total value of $102,600.00. Following the completion of the transaction, the director directly owned 983,820 shares in the company, valued at $1,682,332.20. The trade was a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

VNET Group Trading Down 9.0%

NASDAQ:VNET opened at $8.84 on Friday. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $5.31 and a 1-year high of $14.48. The business’s 50-day moving average price is $9.20 and its two-hundred day moving average price is $9.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 3.99. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -6.45 and a beta of 0.25.

VNET Group (NASDAQ:VNET) last released its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($1.17). The company had revenue of $390.32 million during the quarter, compared to analyst estimates 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, equities analysts expect that VNET Group, Inc. – Unsponsored ADR will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On VNET Group

Large investors have recently bought and sold shares of the company. Leonteq Securities AG acquired a new position in VNET Group during the 1st quarter worth approximately $25,000. Global Retirement Partners LLC acquired a new position in VNET Group during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its position in VNET Group by 52.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 1,426 shares during the last quarter. Parallel Advisors LLC boosted its position in VNET Group by 26.8% during the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Allianz SE acquired a new position in VNET Group during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Wall Street Zen raised VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Bank of America set a $16.30 price target on VNET Group and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Zacks Research raised VNET Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $16.00 price target on shares of VNET Group in a research report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, VNET Group currently has a consensus rating of “Hold” and an average target price of $19.03.

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.