Key Points
- Director David Lifeng Chen sold 83,544 shares on March 23 at an average price of $1.51, receiving $126,151; his ownership fell 20% to 334,164 shares valued at about $504,588, according to the SEC filing.
- VNET missed quarterly EPS estimates ($0.00 vs. $0.04) despite revenue beating forecasts ($384.07M), and analysts are mixed—two Buys and one Sell—with a consensus price target of $18.08.
VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) Director David Lifeng Chen sold 83,544 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.51, for a total value of $126,151.44. Following the transaction, the director owned 334,164 shares of the company's stock, valued at approximately $504,587.64. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
VNET Group Price Performance
NASDAQ VNET opened at $9.11 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 2.68. VNET Group, Inc. - Unsponsored ADR has a 12 month low of $4.65 and a 12 month high of $14.48. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -31.41 and a beta of 0.01. The company's 50 day moving average is $10.90 and its two-hundred day moving average is $9.93.
VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings results on Monday, March 16th. The information technology services provider reported $0.00 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.04). The firm had revenue of $384.07 million during the quarter, compared to the consensus estimate of $368.64 million. VNET Group had a positive return on equity of 1.36% and a negative net margin of 2.48%. As a group, research analysts anticipate that VNET Group, Inc. - Unsponsored ADR will post -0.06 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on VNET. Bank of America reiterated a "buy" rating on shares of VNET Group in a research note on Monday, March 16th. Weiss Ratings restated a "sell (d-)" rating on shares of VNET Group in a research report on Monday, December 29th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $23.55 price objective on shares of VNET Group in a research note on Monday, March 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.08.
Check Out Our Latest Stock Analysis on VNET
Hedge Funds Weigh In On VNET Group
Hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC grew its stake in VNET Group by 46.0% during the fourth quarter. Hsbc Holdings PLC now owns 1,293,571 shares of the information technology services provider's stock valued at $10,944,000 after acquiring an additional 407,517 shares in the last quarter. Virtu Financial LLC purchased a new stake in VNET Group in the 4th quarter worth $157,000. Dorsey Wright & Associates lifted its stake in VNET Group by 5.9% in the 4th quarter. Dorsey Wright & Associates now owns 222,482 shares of the information technology services provider's stock worth $1,882,000 after purchasing an additional 12,345 shares in the last quarter. Alden Global Capital LLC boosted its holdings in shares of VNET Group by 9.4% during the 4th quarter. Alden Global Capital LLC now owns 1,075,500 shares of the information technology services provider's stock valued at $9,099,000 after purchasing an additional 92,600 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of VNET Group during the 4th quarter valued at about $1,964,000. Hedge funds and other institutional investors own 72.83% of the company's stock.
VNET Group Company Profile
(
Get Free Report)
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.
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