The Vanguard Group, Inc. has recently announced that it has increased stake in VNET Group Inc ADR (NASDAQ:VNET) by 1.14%. After grabbing 3.85 million shares, the institutional investor is now in possession of 43587.0 shares of the Technology Company. The new investment brought the stake of investor firm to 2.69% having worth around $10.79 million. Moreover, Anson Funds Management LP increased its share by 0.13 million to have a control over 2.02 million shares.
VNET Group Inc ADR (VNET) concluded trading on 01/10/24 at a closing price of $2.35, with 3.39 million shares of worth about $7.97 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -20.07% during that period and on Wednesday the price saw a loss of about -5.62%. Currently the company’s common shares owned by public are about 143.32M shares, out of which, 129.96M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the VNET stock and their offered price forecasts bring an average price target of $33.06. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $57.95 and could fall to a lowest price of $18.48. The stock’s current price level is 48.46% above of average price target set by the analysts, while a rise to estimated low would result in gain of 87.28% for the stock. However, touching the estimated high of $57.95 would mean a gain of 95.94% for the stock.
Fidelity China Special Situations, Fidelity Funds SICAV – Global Tec, and Fidelity Funds SICAV – Pacific Fu are the top 3 mutual funds which are holding stakes in VNET Group Inc ADR Fidelity China Special Situations is currently holding 5.1 million shares of worth totaling $14.28 million. The company recently came buying 0.0 shares which brought its stake up to 3.56% of the company’s outstanding shares. Fidelity Funds SICAV – Global Tec bought 1478.0 shares, after which its hold over company’s outstanding shares expand to 3.51%, leaving 5.03 million shares with the mutual fund that have a worth of about $14.08 million. Fidelity Funds SICAV – Pacific Fu, after buying 2.09 million shares, have now control over 1.46% of the stake in the company. It holds 0.0 shares of worth $5.86 million.
However, the stock later moved at a day high price of 2.4950, or with a loss of -5.62%. Stock saw a price change of -11.65% in past 5 days and over the past one month there was a price change of -23.20%. Year-to-date (YTD), VNET shares are showing a performance of -18.12% which decreased to -61.91% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.44 but also hit the highest price of $6.83 during that period. The average intraday trading volume for VNET Group Inc ADR shares is 2.15 million. The stock is currently trading -16.81% below its 20-day simple moving average (SMA20), while that difference is down -21.71% for SMA50 and it goes to -21.92% lower than SMA200.
The Vanguard Group, Inc. acquired 3.85 million shares of VNET Group Inc ADR having value of about $10.79 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 43587.0 shares in the company valued at close to $102429.45, or have control over 1.14% stake in the company. VNET Group Inc ADR (NASDAQ: VNET) currently have 143.32M outstanding shares and institutions hold larger chunk of about 42.09% of that. Holding of mutual funds in the company is about 19.06% while other institutional holders and individual stake holders have control over 23.44% and — of the stake respectively.
The stock has a current market capitalization of $336.80M and its 3Y-monthly beta is at -0.25. It has posted earnings per share of -$0.27 in the same period. It has Quick Ratio of 0.71 while making debt-to-equity ratio of 2.61. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for VNET, volatility over the week remained 7.56% while standing at 6.32% over the month.
Analysts are in expectations that VNET Group Inc ADR (VNET) stock would likely to be making an EPS of -$0.23 in the current quarter, while forecast for next quarter EPS is -$0.01 and it is -$0.47 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.27 which is -$0.18 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.06 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 63.65% while it is estimated to decrease by -6.19% in next year. EPS is likely to shrink at an annualized rate of 4.52% for next 5-years, compared to annual growth of 8.38% made by the stock over the past 5-years.
Analysts at 8 brokerage firms have issued recommendations for the VNET Group Inc ADR (VNET)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.12. Out of those 8 Wall Street analysts, 3 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on July 07, 2023 offering a Neutral rating for the stock and assigned a target price of $3.40 to it.
