Insider Selling: VNET Group (NASDAQ:VNET) SVP Sells $15,807.00 in Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) SVP Zhihua Zhang sold 28,740 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $0.55, for a total value of $15,807.00. Following the completion of the transaction, the senior vice president directly owned 84,384 shares in the company, valued at approximately $46,411.20. This represents a 25.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

VNET Group Trading Down 10.5%

NASDAQ VNET opened at $3.15 on Friday. The stock’s 50-day simple moving average is $5.28 and its two-hundred day simple moving average is $8.19. VNET Group, Inc. – Unsponsored ADR has a twelve month low of $2.91 and a twelve month high of $14.48. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.35. The company has a market capitalization of $852.04 million, a price-to-earnings ratio of -2.22 and a beta of 0.35.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Wednesday, August 19th. The information technology services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). VNET Group had a negative return on equity of 36.25% and a negative net margin of 22.29%. The firm had revenue of $409.00 million during the quarter, compared to analysts’ expectations of $401.77 million. Research analysts forecast that VNET Group, Inc. – Unsponsored ADR will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On VNET Group

Several institutional investors have recently modified their holdings of VNET. Leonteq Securities AG purchased a new stake in shares of VNET Group during the first quarter worth about $25,000. Parallel Advisors LLC grew its stake in shares of VNET Group by 26.8% during the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 1,160 shares during the last quarter. Nykredit A S bought a new stake in shares of VNET Group during the 2nd quarter worth approximately $89,000. Oppenheimer & Co. Inc. bought a new stake in shares of VNET Group during the 3rd quarter worth approximately $62,000. Finally, Lido Advisors LLC purchased a new position in VNET Group during the 1st quarter valued at $126,000. 72.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on VNET. UBS Group dropped their target price on VNET Group from $13.40 to $6.80 and set a “buy” rating on the stock in a report on Friday, October 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $14.00 price target on shares of VNET Group in a research report on Wednesday, August 19th. Finally, Weiss Ratings lowered VNET Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.88.

VNET Group Company Profile

VNET Group, Inc (NASDAQ:VNET), formerly known as 21Vianet Group, is a provider of data center and information technology infrastructure services in China. Founded in 1999, the company operates carrier-neutral data centers that allow customers to house servers and other equipment while connecting to multiple telecommunications and internet networks.

VNET’s services include data center hosting, cloud computing, managed network services, internet connectivity, content delivery and hybrid cloud solutions.