Headlands Technologies LLC Acquires Shares of 239,467 VNET Group, Inc. – Unsponsored ADR $VNET

Headlands Technologies LLC acquired a new stake in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 239,467 shares of the information technology services provider’s stock, valued at approximately $1,925,000.

A number of other institutional investors also recently modified their holdings of VNET. Leonteq Securities AG purchased a new position in VNET Group during the 1st quarter valued at about $25,000. Global Retirement Partners LLC purchased a new stake in VNET Group in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC lifted its holdings in VNET Group by 52.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock worth $29,000 after buying an additional 1,426 shares during the period. Parallel Advisors LLC grew its position in shares of VNET Group by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after buying an additional 1,160 shares during the last quarter. Finally, Allianz SE bought a new stake in shares of VNET Group in the 4th quarter worth approximately $50,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

VNET Group Stock Down 7.5%

NASDAQ:VNET opened at $6.06 on Tuesday. The company has a market capitalization of $1.64 billion, a PE ratio of -4.27 and a beta of 0.32. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.97 and a quick ratio of 0.97. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $6.02 and a 1-year high of $14.48. The firm’s 50-day moving average price is $7.41 and its 200-day moving average price is $8.93.

VNET Group (NASDAQ:VNET) last announced its earnings results on Tuesday, August 18th. The information technology services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. The business had revenue of $409.00 million for the quarter, compared to the consensus estimate of $401.77 million. On average, equities analysts predict that VNET Group, Inc. – Unsponsored ADR will post -0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VNET shares. Wall Street Zen downgraded VNET Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of VNET Group in a research report on Tuesday, July 7th. They set a “buy” rating and a $12.50 price objective on the stock. Morgan Stanley restated an “overweight” rating and issued a $14.00 price objective on shares of VNET Group in a report on Wednesday, August 19th. Zacks Research raised shares of VNET Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of VNET Group in a research report on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.90.

VNET Group 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.