VNET Group Target of Unusually High Options Trading (NASDAQ:VNET)

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) saw unusually large options trading activity on Wednesday. Stock traders purchased 9,952 call options on the company. This represents an increase of 89% compared to the average volume of 5,273 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VNET. William Blair Investment Management LLC acquired a new position in shares of VNET Group in the 3rd quarter valued at $15,951,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in VNET Group during the 2nd quarter worth $194,000. GSA Capital Partners LLP lifted its position in VNET Group by 110.3% in the third quarter. GSA Capital Partners LLP now owns 236,240 shares of the information technology services provider’s stock valued at $2,440,000 after acquiring an additional 123,901 shares during the last quarter. DNB Asset Management AS acquired a new position in VNET Group in the third quarter valued at $1,744,000. Finally, Envestnet Asset Management Inc. boosted its stake in VNET Group by 21.5% in the second quarter. Envestnet Asset Management Inc. now owns 244,888 shares of the information technology services provider’s stock valued at $1,690,000 after acquiring an additional 43,392 shares in the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $23.55 price target on shares of VNET Group in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of VNET Group in a report on Monday, December 29th. Finally, Bank of America reissued a “buy” rating on shares of VNET Group in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.08.

VNET Group Stock Up 2.5%

NASDAQ VNET traded up $0.24 on Wednesday, hitting $9.57. 3,844,157 shares of the stock were exchanged, compared to its average volume of 7,025,000. VNET Group has a fifty-two week low of $4.65 and a fifty-two week high of $14.48. The company has a 50-day moving average price of $11.10 and a 200-day moving average price of $9.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88. The company has a market cap of $2.57 billion, a PE ratio of -32.94, a PEG ratio of 0.74 and a beta of 0.01.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Monday, March 16th. The information technology services provider reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04). The firm had revenue of $384.07 million for the quarter, compared to analysts’ expectations of $368.64 million. VNET Group had a positive return on equity of 1.38% and a negative net margin of 2.48%. Sell-side analysts anticipate that VNET Group will post -0.06 EPS for the current fiscal year.

VNET Group Company Profile

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.