Infini Capital Management Ltd Invests $38.88 Million in VNET Group, Inc. – Unsponsored ADR $VNET

Infini Capital Management Ltd bought a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,836,149 shares of the information technology services provider’s stock, valued at approximately $38,883,000. VNET Group accounts for about 100.0% of Infini Capital Management Ltd’s holdings, making the stock its largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in VNET Group by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 241,964 shares of the information technology services provider’s stock valued at $1,670,000 after acquiring an additional 7,489 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of VNET Group by 1,201.2% during the second quarter. JPMorgan Chase & Co. now owns 511,417 shares of the information technology services provider’s stock worth $3,529,000 after acquiring an additional 472,115 shares during the period. Quantbot Technologies LP grew its position in shares of VNET Group by 333.0% in the second quarter. Quantbot Technologies LP now owns 18,805 shares of the information technology services provider’s stock valued at $130,000 after purchasing an additional 14,462 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of VNET Group by 52.2% in the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 1,426 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of VNET Group during the second quarter worth approximately $3,568,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Price Performance

VNET Group stock opened at $6.37 on Tuesday. The stock’s fifty day moving average price is $7.25 and its two-hundred day moving average price is $8.67. VNET Group, Inc. – Unsponsored ADR has a one year low of $5.91 and a one year high of $14.48. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $1.72 billion, a PE ratio of -4.49 and a beta of 0.27.

VNET Group (NASDAQ:VNET) last released its earnings results on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The company had revenue of $409.00 million for the quarter, compared to the consensus estimate of $401.77 million. VNET Group had a negative net margin of 22.29% and a negative return on equity of 36.25%. As a group, research analysts expect that VNET Group, Inc. – Unsponsored ADR will post -0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VNET shares. Bank of America set a $16.30 price target on VNET Group and gave the company a “buy” rating in a research note on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating and set a $24.79 target price on shares of VNET Group in a report on Tuesday, May 26th. Weiss Ratings cut shares of VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of VNET Group in a research note on Tuesday, July 7th. They issued a “buy” rating and a $12.50 price target on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 price target on shares of VNET Group in a research report on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, VNET Group currently has an average rating of “Moderate Buy” and a consensus target price of $16.90.

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.