DNB Asset Management AS Invests $1.74 Million in VNET Group, Inc. – Unsponsored ADR $VNET

DNB Asset Management AS bought a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 168,800 shares of the information technology services provider’s stock, valued at approximately $1,744,000. DNB Asset Management AS owned 0.06% of VNET Group at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of VNET. Fox Run Management L.L.C. bought a new position in shares of VNET Group during the 3rd quarter worth about $176,000. China Universal Asset Management Co. Ltd. acquired a new stake in VNET Group during the third quarter worth about $310,000. WT Asset Management Ltd increased its stake in VNET Group by 700.0% during the third quarter. WT Asset Management Ltd now owns 400,000 shares of the information technology services provider’s stock valued at $4,132,000 after acquiring an additional 350,000 shares during the period. Persistent Asset Partners Ltd acquired a new position in VNET Group in the 3rd quarter valued at approximately $100,000. Finally, GSA Capital Partners LLP lifted its position in shares of VNET Group by 110.3% in the 3rd quarter. GSA Capital Partners LLP now owns 236,240 shares of the information technology services provider’s stock worth $2,440,000 after acquiring an additional 123,901 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Stock Down 5.6%

NASDAQ VNET opened at $9.86 on Wednesday. VNET Group, Inc. – Unsponsored ADR has a 1-year low of $4.65 and a 1-year high of $14.48. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -32.87, a PEG ratio of 0.82 and a beta of 0.01. The stock’s 50 day moving average is $10.81 and its two-hundred day moving average is $9.74. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.88.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, VNET Group currently has a consensus rating of “Hold” and a consensus target price 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.