VNET Group (NASDAQ:VNET) SVP Sells $15,807.00 in Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) SVP Zhihua Zhang sold 28,740 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $0.55, for a total transaction of $15,807.00. Following the sale, the senior vice president owned 84,384 shares of the company’s stock, valued at $46,411.20. This trade represents a 25.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

VNET Group Stock Performance

NASDAQ VNET opened at $3.00 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.35. VNET Group, Inc. – Unsponsored ADR has a 52-week low of $2.97 and a 52-week high of $14.48. The business’s 50-day moving average price is $5.49 and its 200 day moving average price is $8.31. The firm has a market cap of $811.47 million, a P/E ratio of -2.11 and a beta of 0.36.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The company had revenue of $409.00 million for the quarter, compared to analysts’ expectations of $401.77 million. VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. On average, equities research analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on VNET Group in a research note on Tuesday, July 7th. They set a “buy” rating and a $12.50 price target for the company. UBS Group lowered their price objective on shares of VNET Group from $13.40 to $6.80 and set a “buy” rating on the stock in a research report on Friday. Weiss Ratings cut shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. Finally, Morgan Stanley restated an “overweight” rating and set a $14.00 price objective on shares of VNET Group in a research report on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.88.

Institutional Investors Weigh In On VNET Group

A number of institutional investors have recently added to or reduced their stakes in VNET. Infini Capital Management Ltd purchased a new position in shares of VNET Group during the 2nd quarter worth approximately $38,883,000. Carmignac Gestion boosted its stake in shares of VNET Group by 1,375.1% in the second quarter. Carmignac Gestion now owns 4,760,599 shares of the information technology services provider’s stock valued at $38,123,000 after buying an additional 4,437,879 shares in the last quarter. Senvest Management LLC boosted its stake in shares of VNET Group by 211.7% in the first quarter. Senvest Management LLC now owns 2,779,637 shares of the information technology services provider’s stock valued at $23,321,000 after buying an additional 1,887,883 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in VNET Group by 20.4% during the first quarter. The Manufacturers Life Insurance Company now owns 2,623,594 shares of the information technology services provider’s stock worth $22,012,000 after acquiring an additional 443,656 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in VNET Group by 16.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,470,654 shares of the information technology services provider’s stock worth $12,330,000 after acquiring an additional 209,694 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Company Profile

VNET Group, Inc (NASDAQ:VNET), formerly known as 21Vianet Group, is a provider of data center and information technology infrastructure services in China. Founded in 1999, the company operates carrier-neutral data centers that allow customers to house servers and other equipment while connecting to multiple telecommunications and internet networks.

VNET’s services include data center hosting, cloud computing, managed network services, internet connectivity, content delivery and hybrid cloud solutions.