Stock Traders Purchase Large Volume of VNET Group Call Options (NASDAQ:VNET)

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) saw unusually large options trading activity on Tuesday. Stock investors acquired 10,613 call options on the stock. This represents an increase of 82% compared to the average volume of 5,831 call options.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Sunday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, VNET Group has an average rating of “Buy” and a consensus price target of $9.30.

Hedge Funds Weigh In On VNET Group

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its holdings in shares of VNET Group by 16.8% during the second quarter. Public Employees Retirement System of Ohio now owns 14,600 shares of the information technology services provider’s stock worth $101,000 after buying an additional 2,100 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of VNET Group during the 2nd quarter worth $34,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in VNET Group during the second quarter worth about $90,000. Ascent Group LLC acquired a new position in shares of VNET Group in the 1st quarter valued at about $98,000. Finally, Caxton Associates LLP acquired a new stake in VNET Group during the 1st quarter worth approximately $892,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Price Performance

VNET Group stock opened at $9.04 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.34. The firm’s 50-day simple moving average is $6.32 and its 200 day simple moving average is $7.43. VNET Group has a 52 week low of $1.71 and a 52 week high of $16.13. The firm has a market capitalization of $2.43 billion, a PE ratio of -904.00, a P/E/G ratio of 1.49 and a beta of 0.14.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Wednesday, May 28th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). VNET Group had a net margin of 1.66% and a return on equity of 2.11%. The business had revenue of $309.52 million during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the company earned ($0.28) EPS. On average, equities research analysts predict that VNET Group will post -0.06 EPS for the current fiscal year.

VNET Group announced that its Board of Directors has approved a share repurchase plan on Friday, June 27th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

VNET Group Company Profile

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.