Zhihua Zhang Sells 9,072 Shares of VNET Group (NASDAQ:VNET) Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) SVP Zhihua Zhang sold 9,072 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $1.69, for a total value of $15,331.68. Following the transaction, the senior vice president directly owned 33,924 shares of the company’s stock, valued at $57,331.56. The trade was a 21.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

VNET Group Stock Up 4.3%

Shares of NASDAQ VNET opened at $10.52 on Tuesday. VNET Group, Inc. – Unsponsored ADR has a 12 month low of $5.14 and a 12 month high of $14.48. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -36.28 and a beta of 0.19. The business has a 50-day moving average of $9.11 and a 200-day moving average of $9.73.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Monday, March 16th. The information technology services provider reported $0.00 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.04). VNET Group had a positive return on equity of 1.36% and a negative net margin of 2.48%.The business had revenue of $384.07 million for the quarter, compared to analysts’ expectations of $368.64 million. Sell-side analysts expect that VNET Group, Inc. – Unsponsored ADR will post 0.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VNET. Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a research report on Friday, March 27th. Wall Street Zen upgraded VNET Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group restated a “buy” rating and issued a $23.55 target price on shares of VNET Group in a research report on Monday, March 16th. Finally, Bank of America restated a “buy” rating on shares of VNET Group in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.08.

Institutional Trading of VNET Group

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. boosted its stake in shares of VNET Group by 3.0% during the first quarter. Sei Investments Co. now owns 37,602 shares of the information technology services provider’s stock valued at $316,000 after purchasing an additional 1,098 shares during the period. Parallel Advisors LLC boosted its stake in shares of VNET Group by 26.8% during the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 1,160 shares during the period. Orion Porfolio Solutions LLC boosted its stake in shares of VNET Group by 6.1% during the third 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 during the period. EverSource Wealth Advisors LLC boosted its stake in shares of VNET Group by 52.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 1,426 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of VNET Group by 14.5% during the third quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock valued at $118,000 after purchasing an additional 1,446 shares during the period. Institutional investors own 72.83% of the company’s stock.

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.