Key Points
- Director Sean Shao sold 60,000 shares of VNET Group on June 1 at an average price of $1.71, totaling $102,600. After the transaction, he still held 983,820 shares, a 5.75% reduction in his stake.
- VNET shares fell 4.2% amid the report and were trading at $10.33, with the company carrying a market cap of $2.79 billion and a high debt-to-equity ratio of 3.99.
- Recent earnings disappointed: VNET reported a loss of $1.20 per share, far worse than expected, even though revenue slightly topped estimates. Analysts remain mixed, with a consensus rating of “Hold” and an average target price of $19.03.
VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) Director Sean Shao sold 60,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1.71, for a total transaction of $102,600.00. Following the sale, the director owned 983,820 shares of the company's stock, valued at approximately $1,682,332.20. This represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
VNET Group Stock Down 4.2%
Shares of NASDAQ:VNET opened at $10.33 on Thursday. The stock has a market cap of $2.79 billion, a P/E ratio of -7.54 and a beta of 0.25. VNET Group, Inc. - Unsponsored ADR has a 1-year low of $5.31 and a 1-year high of $14.48. The firm has a fifty day moving average price of $9.19 and a 200 day moving average price of $9.76. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.99.
VNET Group (NASDAQ:VNET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share (EPS) 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%. Sell-side analysts predict that VNET Group, Inc. - Unsponsored ADR will post 0.23 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. 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 $24.79 target price on shares of VNET Group in a research note on Tuesday, May 26th. Weiss Ratings restated a "sell (d-)" rating on shares of VNET Group in a research note on Friday, March 27th. Bank of America set a $16.30 target price on shares of VNET Group and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley restated an "overweight" rating and issued a $16.00 target price on shares of VNET Group in a research note on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.03.
Check Out Our Latest Stock Analysis on VNET Group
Hedge Funds Weigh In On VNET Group
Several hedge funds have recently added to or reduced their stakes in VNET. Geode Capital Management LLC increased its holdings in VNET Group by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 241,964 shares of the information technology services provider's stock valued at $1,670,000 after acquiring an additional 7,489 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in VNET Group by 1,201.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 511,417 shares of the information technology services provider's stock valued at $3,529,000 after acquiring an additional 472,115 shares in the last quarter. Quantbot Technologies LP increased its holdings in VNET Group by 333.0% during the 2nd quarter. Quantbot Technologies LP now owns 18,805 shares of the information technology services provider's stock valued at $130,000 after acquiring an additional 14,462 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 valued at $29,000 after acquiring an additional 1,426 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of VNET Group during the second quarter worth about $3,568,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.
About VNET Group
(
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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