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

VNET Group, Inc. (NASDAQ:VNET) saw unusually large options trading activity on Friday. Stock traders purchased 5,475 put options on the stock. This is an increase of 26% compared to the typical daily volume of 4,345 put options.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in VNET Group by 237.7% in the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock valued at $1,218,000 after buying an additional 210,124 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of VNET Group during the fourth quarter valued at approximately $152,000. JPMorgan Chase & Co. raised its stake in shares of VNET Group by 136,783.0% during the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider’s stock valued at $558,000 after purchasing an additional 136,783 shares during the period. Virtu Financial LLC purchased a new stake in shares of VNET Group during the third quarter valued at approximately $519,000. Finally, SG Americas Securities LLC raised its stake in shares of VNET Group by 534.6% during the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock valued at $1,931,000 after purchasing an additional 343,140 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup raised their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research note on Friday. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $3.10 to $5.00 in a report on Friday, November 29th. UBS Group increased their price objective 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, StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, VNET Group currently has a consensus rating of “Buy” and an average target price of $7.98.

VNET Group Trading Up 12.0 %

NASDAQ VNET opened at $11.65 on Friday. VNET Group has a one year low of $1.42 and a one year high of $16.13. The company’s 50 day moving average price is $9.09 and its 200 day moving average price is $5.51. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -5.25, a PEG ratio of 1.01 and a beta of 0.06.

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). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The business had revenue of $307.75 million during the quarter, compared to analysts’ expectations of $284.88 million. On average, sell-side analysts predict that VNET Group will post -0.06 EPS for the current 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.