Stock Price Performance And Outlook Of VNET Group Inc ADR

In the last trading session, 1.18 million VNET Group Inc ADR (NASDAQ:VNET) shares changed hands as the company’s beta touched -0.30. With the company’s per share price at $1.50 changed hands at -$0.05 or -3.23% during last session, the market valuation stood at $214.98M. VNET’s last price was a discount, traded about -344.0% off its 52-week high of $6.66. The share price had its 52-week low at $1.39, which suggests the last value was 7.33% up since then. When we look at VNET Group Inc ADR’s average trading volume, we note the 10-day average is 2.96 million shares, with the 3-month average coming to 0.47.

VNET Group Inc ADR (NASDAQ:VNET) trade information

Instantly VNET was in red as seen at the end of in last trading. With action 1.01%, the performance over the past five days has been green. The drop to weekly highs of 1.6550 subtracted -3.23% to the stock’s daily price. The company’s shares are showing year-to-date downside of -47.74%, with the 5-day performance at 1.01% in the green. However, in the 30-day time frame, VNET Group Inc ADR (NASDAQ:VNET) is -36.17% down. Looking at the short shares, we see there were 8.54 million shares sold at short interest cover period of 3.2 days.

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VNET Group Inc ADR (VNET) estimates and forecasts

Data shows that the VNET Group Inc ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -48.98% over the past 6 months, a 67.95% in annual growth rate that is considerably higher than the industry average of 25.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for VNET Group Inc ADR will fall -283.30%, while the growth in revenue is estimated to hit -116.70% for the next quarter. Year-over-year growth is forecast to reach 4.70% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $282.85 million. 1 analysts are of the opinion that VNET Group Inc ADR’s revenue for the quarter ending Mar 2024 will be $282.72 million. The company’s revenue for the corresponding quarters a year ago was $268.33 million and $249.56 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 5.40%. The estimates for the next quarter sales put growth at 13.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 8.38%. The 2024 estimates are for VNET Group Inc ADR earnings to increase by 63.43%, but the outlook for the next 5-year period is at 4.52% per year.

VNET Group Inc ADR (NASDAQ:VNET)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 13.29% of VNET Group Inc ADR shares while 57.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 66.03%. There are 57.25% institutions holding the VNET Group Inc ADR stock share, with FIL LTD the top institutional holder. As of Jun 29, 2023, the company held 10.00% of the shares, roughly 14.33 million VNET shares worth $41.55 million.

Blackstone Inc holds the second largest percentage of outstanding shares, with 7.26% or 10.4 million shares worth $30.17 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were Vanguard International Stock Index-Emerging Markets Stk and Fidelity Pacific Basin Fund. With 1.7 million shares estimated at $5.05 million under it, the former controlled 1.19% of total outstanding shares. On the other hand, Fidelity Pacific Basin Fund held about 1.15% of the shares, roughly 1.65 million shares worth around $4.9 million.

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