GSA Capital Partners LLP Purchases 123,901 Shares of VNET Group, Inc. – Unsponsored ADR $VNET

GSA Capital Partners LLP raised its position in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 110.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,240 shares of the information technology services provider’s stock after buying an additional 123,901 shares during the quarter. GSA Capital Partners LLP owned 0.09% of VNET Group worth $2,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Infini Capital Management Ltd increased its position in VNET Group by 39.2% during the second quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock worth $67,331,000 after acquiring an additional 2,747,661 shares during the period. Norges Bank acquired a new position in shares of VNET Group during the 2nd quarter worth approximately $54,199,000. Oxbow Capital Management HK Ltd increased its holdings in shares of VNET Group by 64.3% during the second quarter. Oxbow Capital Management HK Ltd now owns 5,750,000 shares of the information technology services provider’s stock worth $39,675,000 after purchasing an additional 2,250,000 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of VNET Group by 674.8% during the second quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock worth $23,067,000 after purchasing an additional 2,911,604 shares during the period. Finally, Bank of America Corp DE raised its position in shares of VNET Group by 288.5% in the second quarter. Bank of America Corp DE now owns 2,577,675 shares of the information technology services provider’s stock valued at $17,786,000 after buying an additional 1,914,201 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on VNET. Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a research note on Monday, December 29th. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.30.

VNET Group Stock Performance

VNET Group stock opened at $13.80 on Tuesday. The stock has a market cap of $3.71 billion and a PE ratio of -46.00. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88. VNET Group, Inc. – Unsponsored ADR has a 12-month low of $4.65 and a 12-month high of $16.13. The business’s 50-day moving average price is $10.21 and its two-hundred day moving average price is $9.45.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Thursday, November 20th. The information technology services provider reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $362.63 million during the quarter, compared to analysts’ expectations of $335.87 million. VNET Group had a negative net margin of 5.99% and a negative return on equity of 3.42%. As a group, analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.06 earnings per share for the current fiscal year.

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.