VNET Group, Inc. – Unsponsored ADR $VNET Holdings Decreased by Triata Capital Ltd

Triata Capital Ltd lowered its position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,947,969 shares of the information technology services provider’s stock after selling 277,335 shares during the quarter. VNET Group accounts for 14.4% of Triata Capital Ltd’s investment portfolio, making the stock its 2nd biggest position. Triata Capital Ltd owned 4.44% of VNET Group worth $123,423,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Infini Capital Management Ltd raised its holdings in shares of VNET Group by 39.2% in the 2nd quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock worth $67,331,000 after purchasing an additional 2,747,661 shares during the period. Norges Bank purchased a new stake in shares of VNET Group during the 2nd quarter worth about $54,199,000. Oxbow Capital Management HK Ltd increased its position in VNET Group by 64.3% during the 2nd quarter. Oxbow Capital Management HK Ltd now owns 5,750,000 shares of the information technology services provider’s stock worth $39,675,000 after purchasing an additional 2,250,000 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in VNET Group by 674.8% in the second quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock valued at $23,067,000 after buying an additional 2,911,604 shares during the period. Finally, Bank of America Corp DE raised its holdings in VNET Group by 288.5% in the second quarter. Bank of America Corp DE now owns 2,577,675 shares of the information technology services provider’s stock valued at $17,786,000 after buying an additional 1,914,201 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.30.

VNET Group Price Performance

VNET opened at $9.62 on Friday. VNET Group, Inc. – Unsponsored ADR has a twelve month low of $4.65 and a twelve month high of $14.48. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -32.07, a PEG ratio of 0.76 and a beta of 0.01. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88. The company has a fifty day simple moving average of $10.89 and a 200 day simple moving average of $9.77.

About VNET Group

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.