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

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) saw unusually large options trading activity on Monday. Investors acquired 13,552 call options on the company. This represents an increase of 160% compared to the average daily volume of 5,212 call options.

Insider Transactions at VNET Group

In related news, Director Sean Shao sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.71, for a total value of $102,600.00. Following the transaction, the director directly owned 983,820 shares of the company’s stock, valued at approximately $1,682,332.20. This represents a 5.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On VNET Group

Hedge funds have recently modified their holdings of the stock. Triata Capital Ltd boosted its position in shares of VNET Group by 4.6% during the fourth quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider’s stock worth $105,740,000 after acquiring an additional 550,841 shares during the last quarter. Norges Bank bought a new stake in VNET Group in the 4th quarter valued at $65,650,000. Farallon Capital Management LLC increased its holdings in VNET Group by 14.5% in the 4th quarter. Farallon Capital Management LLC now owns 6,285,386 shares of the information technology services provider’s stock valued at $53,174,000 after acquiring an additional 796,266 shares during the last quarter. UBS Group AG lifted its stake in VNET Group by 73.2% in the 3rd quarter. UBS Group AG now owns 4,283,660 shares of the information technology services provider’s stock worth $44,250,000 after purchasing an additional 1,809,987 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of VNET Group by 674.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,343,088 shares of the information technology services provider’s stock valued at $23,067,000 after purchasing an additional 2,911,604 shares during the last quarter. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Price Performance

Shares of VNET Group stock traded up $0.12 during trading hours on Monday, hitting $7.45. The company’s stock had a trading volume of 1,656,901 shares, compared to its average volume of 6,617,687. The company has a market cap of $2.02 billion, a PE ratio of -5.44 and a beta of 0.32. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.99 and a current ratio of 0.99. The business has a 50 day moving average price of $8.16 and a two-hundred day moving average price of $9.37. VNET Group has a 12-month low of $6.17 and a 12-month high of $14.48.

VNET Group (NASDAQ:VNET) last issued its earnings results on Tuesday, May 26th. The information technology services provider reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($1.17). VNET Group had a negative net margin of 22.01% and a negative return on equity of 31.59%. The business had revenue of $390.32 million for the quarter, compared to the consensus estimate of $388.47 million. Analysts expect that VNET Group will post -0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VNET has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on VNET Group in a report on Tuesday, July 7th. They issued a “buy” rating and a $12.50 target price for the company. Wall Street Zen cut VNET Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Bank of America set a $16.30 price objective on VNET Group and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of VNET Group in a research note on Wednesday, July 15th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $16.00 price objective on shares of VNET Group in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.40.

About VNET Group

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.