Sean Shao Sells 60,000 Shares of VNET Group (NASDAQ:VNET) Stock

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) Director Sean Shao sold 60,000 shares of VNET Group stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.71, for a total transaction of $102,600.00. Following the completion of the sale, the director directly owned 983,820 shares in the company, valued at $1,682,332.20. This trade represents a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

VNET Group Trading Down 6.0%

NASDAQ:VNET opened at $9.71 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 3.99. The stock has a market capitalization of $2.63 billion, a PE ratio of -7.09 and a beta of 0.25. The firm’s 50 day moving average is $9.21 and its 200 day moving average is $9.76. VNET Group, Inc. – Unsponsored ADR has a 12 month low of $5.31 and a 12 month high of $14.48.

VNET Group (NASDAQ:VNET) last issued its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.17). VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. The business had revenue of $390.32 million for the quarter, compared to the consensus estimate of $388.47 million. Sell-side analysts expect that VNET Group, Inc. – Unsponsored ADR will post 0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VNET has been the topic of a number of analyst reports. 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. Zacks Research raised shares of VNET Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen raised shares of VNET Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of VNET Group in a report on Friday, March 27th. Finally, Morgan Stanley reissued an “overweight” rating and set a $16.00 target price on shares of VNET Group in a report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.03.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Leonteq Securities AG bought a new position in shares of VNET Group in the first quarter worth $25,000. Global Retirement Partners LLC bought a new position in shares of VNET Group in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC increased its holdings 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 worth $29,000 after purchasing an additional 1,426 shares during the period. Parallel Advisors LLC increased its holdings in shares of VNET Group by 26.8% in the first quarter. Parallel Advisors LLC now owns 5,495 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 1,160 shares during the period. Finally, Allianz SE bought a new position in shares of VNET Group in the fourth quarter worth $50,000. Institutional investors own 72.83% of the company’s stock.

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.