VNET Group Sees Unusually Large Options Volume (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) saw some unusual options trading activity on Friday. Traders acquired 5,475 put options on the stock. This represents an increase of approximately 26% compared to the typical volume of 4,345 put options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VNET. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of VNET Group in the third quarter worth approximately $199,000. Walleye Capital LLC bought a new position in shares of VNET Group in the third quarter worth approximately $115,000. Wolverine Trading LLC bought a new position in shares of VNET Group in the third quarter worth approximately $46,000. XTX Topco Ltd bought a new position in shares of VNET Group in the third quarter worth approximately $343,000. Finally, Anson Funds Management LP grew its holdings in shares of VNET Group by 84.9% in the third quarter. Anson Funds Management LP now owns 450,000 shares of the information technology services provider’s stock worth $1,836,000 after purchasing an additional 206,580 shares during the last quarter. Institutional investors own 72.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VNET. StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Friday. The Goldman Sachs Group raised shares of VNET Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3.10 to $5.00 in a report on Friday, November 29th. Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a report on Friday, February 21st. UBS Group increased their price target on shares of VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, Citigroup increased their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $7.98.

VNET Group Trading Up 12.0 %

Shares of VNET opened at $11.65 on Friday. The firm’s 50 day simple moving average is $9.23 and its 200 day simple moving average is $5.60. The company has a market capitalization of $3.00 billion, a P/E ratio of -5.25, a P/E/G ratio of 1.01 and a beta of 0.06. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. VNET Group has a 1-year low of $1.42 and a 1-year high of $16.13.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The business had revenue of $307.75 million for the quarter, compared to analysts’ expectations of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. Sell-side analysts forecast that VNET Group will post -0.06 earnings per share for the current fiscal year.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.