Key Points
- VNET Group SVP Zhihua Zhang sold 28,740 shares for $15,807 at an average price of $0.55, reducing his holdings by 25.41% to 84,384 shares.
- The company’s latest reported quarter showed a loss of $0.06 per share, missing estimates by $0.04, while revenue of $409 million exceeded expectations of $401.77 million.
- Analyst sentiment is mixed but leans positive: the stock has a “Moderate Buy” consensus and an average target of $14.88, though UBS recently cut its target to $6.80.
VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Get Free Report) SVP Zhihua Zhang sold 28,740 shares of the company's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $0.55, for a total value of $15,807.00. Following the completion of the sale, the senior vice president directly owned 84,384 shares of the company's stock, valued at $46,411.20. The trade was a 25.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
VNET Group Price Performance
VNET stock opened at $2.98 on Wednesday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.97 and a current ratio of 0.97. VNET Group, Inc. - Unsponsored ADR has a 1 year low of $2.91 and a 1 year high of $14.48. The firm has a market cap of $806.06 million, a P/E ratio of -2.10 and a beta of 0.35. The stock has a 50-day simple moving average of $5.42 and a 200-day simple moving average of $8.27.
VNET Group (NASDAQ:VNET - Get Free Report) last announced its earnings results 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 analysts predict that VNET Group, Inc. - Unsponsored ADR will post -0.48 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Parallel Advisors LLC grew its stake in VNET Group by 173.0% during the 3rd quarter. Parallel Advisors LLC now owns 11,833 shares of the information technology services provider's stock valued at $66,000 after purchasing an additional 7,498 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in VNET Group during the 3rd quarter worth approximately $85,000. Asset Management One Co. Ltd. increased its holdings in VNET Group by 26.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 36,829 shares of the information technology services provider's stock worth $204,000 after purchasing an additional 7,752 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in VNET Group during the 3rd quarter worth approximately $62,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of VNET Group in the 3rd quarter valued at approximately $147,000. Institutional investors and hedge funds own 72.83% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of VNET Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, September 1st. Morgan Stanley restated an "overweight" rating and issued a $14.00 target price on shares of VNET Group in a research note on Wednesday, August 19th. UBS Group lowered their price target on shares of VNET Group from $13.40 to $6.80 and set a "buy" rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of VNET Group in a report on Tuesday, July 7th. They set a "buy" rating and a $12.50 price target for the company. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $14.88.
Get Our Latest Stock Report on VNET
About VNET Group
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
