Hidden Lake Asset Management LP Takes $6.15 Million Position in VNET Group, Inc. – Unsponsored ADR $VNET

Hidden Lake Asset Management LP bought a new position in shares of VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 594,859 shares of the information technology services provider’s stock, valued at approximately $6,145,000. VNET Group makes up about 0.8% of Hidden Lake Asset Management LP’s investment portfolio, making the stock its 20th biggest position. Hidden Lake Asset Management LP owned 0.22% of VNET Group as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Farallon Capital Management LLC lifted its position in VNET Group by 83.3% during the third quarter. Farallon Capital Management LLC now owns 5,489,120 shares of the information technology services provider’s stock worth $56,703,000 after purchasing an additional 2,495,000 shares during the period. BlueCrest Capital Management Ltd bought a new position in VNET Group in the 3rd quarter valued at about $331,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of VNET Group during the 3rd quarter worth approximately $564,000. Alden Global Capital LLC bought a new stake in shares of VNET Group during the 3rd quarter worth approximately $10,153,000. Finally, Raymond James Financial Inc. boosted its position in shares of VNET Group by 14.5% during the 3rd quarter. Raymond James Financial Inc. now owns 11,446 shares of the information technology services provider’s stock worth $118,000 after acquiring an additional 1,446 shares in the last quarter. Institutional investors own 72.83% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of VNET Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, VNET Group currently has a consensus rating of “Hold” and a consensus price target of $12.60.

VNET Group Price Performance

Shares of VNET opened at $10.51 on Monday. The business has a 50-day simple moving average of $11.10 and a two-hundred day simple moving average of $9.89. VNET Group, Inc. – Unsponsored ADR has a 12-month low of $4.65 and a 12-month high of $14.48. The stock has a market cap of $2.83 billion, a PE ratio of -35.03, a PEG ratio of 0.82 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88.

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.