The Vanguard Group, Inc. recently announced the acquisition of new stake in VNET Group Inc ADR (NASDAQ:VNET). The institutional investor has increased its shareholding in the Technology company by 1.14% to 3.85 million shares with purchase of 43587.0 shares. This fresh investment now brings its stake to 2.69% valued currently at $11.06 million. In addition, Anson Funds Management LP raised its holdings by 0.13 million to 2.02 million shares.
Currently, there are 143.32M common shares owned by the public and among those 129.96M shares have been available to trade.
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The top 3 mutual fund holders in VNET Group Inc ADR are Fidelity China Special Situations, Fidelity Funds SICAV – Global Tec, and Fidelity Funds SICAV – Pacific Fu. Fidelity China Special Situations owns 5.1 million shares of the company’s stock, all valued at over $14.64 million. Fidelity Funds SICAV – Global Tec bought 1478.0 shares to see its total holdings expand to 5.03 million shares valued at over $14.44 million and representing 3.51% of the shares outstanding. Fidelity Funds SICAV – Pacific Fu now owns shares totaling to 1.46% of the shares outstanding.
The company’s stock has a 5-day price change of -22.27% and -30.94% over the past three months. VNET shares are trading -33.10% year to date (YTD), with the 12-month market performance down to -70.23% lower. It has a 12-month low price of $1.85 and touched a high of $6.66 over the same period. VNET has an average intraday trading volume of 2.34 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -25.40%, -32.34%, and -35.33% respectively.
Institutional ownership of VNET Group Inc ADR (NASDAQ: VNET) shares accounts for 42.02% of the company’s 143.32M shares outstanding. Mutual fund holders own 18.93%, while other institutional holders and individual stakeholders account for 23.46% and — respectively.
It has a market capitalization of $275.17M and a beta (3y monthly) value of -0.27. The earnings-per-share (ttm) stands at -$0.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.03% over the week and 7.28% over the month.
Analysts forecast that VNET Group Inc ADR (VNET) will achieve an EPS of -$0.23 for the current quarter, -$0.01 for the next quarter and -$0.47 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.27 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was -$0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 63.62%, and -6.19% over the next financial year. EPS should shrink at an annualized rate of 4.52% over the next five years, compared to 8.38% over the past 5-year period.
Looking at the support for the VNET, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on July 07, 2023, with the firm’s price target at $3.40.
