VNET Group, Inc. – Unsponsored ADR $VNET Stock Position Cut by Triata Capital Ltd

Triata Capital Ltd trimmed its holdings in VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,947,969 shares of the information technology services provider’s stock after selling 277,335 shares during the period. VNET Group comprises approximately 14.4% of Triata Capital Ltd’s holdings, making the stock its 2nd largest holding. Triata Capital Ltd’s holdings in VNET Group were worth $123,423,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in VNET. Norges Bank bought a new stake in shares of VNET Group in the second quarter worth $54,199,000. BNP Paribas Financial Markets boosted its stake in VNET Group by 674.8% during 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 acquiring an additional 2,911,604 shares during the last quarter. Infini Capital Management Ltd boosted its stake in VNET Group by 39.2% during the 2nd 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 during the last quarter. Oxbow Capital Management HK Ltd grew its holdings 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 worth $39,675,000 after acquiring an additional 2,250,000 shares in the last quarter. Finally, Candriam S.C.A. bought a new stake in shares of VNET Group in the 3rd quarter worth about $19,854,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Stock Performance

VNET Group stock opened at $9.62 on Friday. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.90 and a quick ratio of 0.90. VNET Group, Inc. – Unsponsored ADR has a 12 month low of $4.65 and a 12 month high of $14.48. The company has a fifty day moving average price of $10.89 and a two-hundred day moving average price of $9.77. The company has a market cap of $2.59 billion, a PE ratio of -32.07, a P/E/G ratio of 0.76 and a beta of 0.01.

Analysts Set New Price Targets

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

About VNET Group

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.