TD Waterhouse Canada Inc. Purchases 49,232 Shares of VNET Group, Inc. - Unsponsored ADR $VNET

TD Waterhouse Canada Inc. raised its position in VNET Group, Inc. - Unsponsored ADR (NASDAQ:VNET - Free Report) by 4,085.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,437 shares of the information technology services provider's stock after buying an additional 49,232 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in VNET Group were worth $333,000 at the end of the most recent reporting period.

• VNET Group Stock is a Tax Loss Selling Play

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in shares of VNET Group in the first quarter valued at about $27,463,000. Taikang Asset Management Hong Kong Co Ltd acquired a new position in shares of VNET Group during the 1st quarter worth approximately $27,210,000. Royal Bank of Canada increased its holdings in shares of VNET Group by 2,304,491.9% during the first quarter. Royal Bank of Canada now owns 1,705,398 shares of the information technology services provider's stock worth $13,985,000 after purchasing an additional 1,705,324 shares during the period. Candriam S.C.A. acquired a new stake in shares of VNET Group in the first quarter valued at approximately $10,504,000. Finally, KADENSA CAPITAL Ltd bought a new stake in shares of VNET Group in the first quarter valued at approximately $8,135,000. Institutional investors and hedge funds own 72.83% of the company's stock.

VNET Group Stock Performance

NASDAQ:VNET opened at $8.89 on Tuesday. VNET Group, Inc. - Unsponsored ADR has a twelve month low of $3.45 and a twelve month high of $16.13. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.40. The stock's 50-day simple moving average is $9.67 and its 200 day simple moving average is $8.08. The firm has a market capitalization of $2.39 billion, a PE ratio of -111.13, a price-to-earnings-growth ratio of 6.37 and a beta of 0.19.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its earnings results on Thursday, November 20th. The information technology services provider reported $0.02 EPS for the quarter, hitting analysts' consensus estimates of $0.02. VNET Group had a net margin of 0.74% and a return on equity of 0.98%. The firm had revenue of $297.93 million during the quarter, compared to analysts' expectations of $335.87 million. VNET Group has set its FY 2025 guidance at EPS. On average, analysts anticipate that VNET Group, Inc. - Unsponsored ADR will post -0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

VNET has been the topic of a number of recent research reports. Weiss Ratings restated a "sell (d+)" rating on shares of VNET Group in a research note on Wednesday, October 8th. Wall Street Zen cut VNET Group from a "hold" rating to a "sell" rating in a research report on Saturday, October 25th. Finally, Bank of America boosted their price target on VNET Group from $11.80 to $12.60 and gave the company a "buy" rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, VNET Group has a consensus rating of "Moderate Buy" and an average target price of $11.15.

Read Our Latest Analysis on VNET Group

VNET Group Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.

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