Eschler Asset Management LLP Makes New Investment in VNET Group, Inc. – Unsponsored ADR $VNET

Eschler Asset Management LLP bought a new stake in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 63,026 shares of the information technology services provider’s stock, valued at approximately $651,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in VNET. Infini Capital Management Ltd raised its holdings in shares of VNET Group by 39.2% in the second quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock valued at $67,331,000 after acquiring an additional 2,747,661 shares in the last quarter. Norges Bank bought a new position in VNET Group during the 2nd quarter worth about $54,199,000. Oxbow Capital Management HK Ltd increased its position in VNET Group by 64.3% during the 2nd quarter. Oxbow Capital Management HK Ltd now owns 5,750,000 shares of the information technology services provider’s stock valued at $39,675,000 after purchasing an additional 2,250,000 shares during the period. UBS Group AG increased its position in VNET Group by 73.2% during the 3rd quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider’s stock valued at $44,250,000 after purchasing an additional 1,809,987 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of VNET Group by 674.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock valued at $23,067,000 after purchasing an additional 2,911,604 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

VNET Group Stock Down 5.2%

Shares of VNET Group stock opened at $10.57 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88. The company has a market cap of $2.84 billion, a P/E ratio of -35.23, a PEG ratio of 0.87 and a beta of 0.01. The firm’s 50 day moving average price is $11.07 and its 200-day moving average price is $9.84. VNET Group, Inc. – Unsponsored ADR has a 52-week low of $4.65 and a 52-week high of $14.48.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.30.

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.