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

VNET Group, Inc. (NASDAQ:VNET) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 6,117 call options on the company. This is an increase of approximately 420% compared to the average daily volume of 1,176 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group raised 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 research report on Friday, November 29th. Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price target for the company in a research note on Wednesday, October 9th. Finally, UBS Group boosted their price target on VNET Group from $6.40 to $7.00 and gave the stock a “buy” rating in a report on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $4.78.

Institutional Investors Weigh In On VNET Group

Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of VNET Group by 89.1% during the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock valued at $6,229,000 after buying an additional 1,400,683 shares during the last quarter. SG Americas Securities LLC lifted its stake in VNET Group by 534.6% during the 4th quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider’s stock valued at $1,931,000 after acquiring an additional 343,140 shares in the last quarter. Inspire Investing LLC purchased a new position in VNET Group during the 3rd quarter worth $1,092,000. Geode Capital Management LLC grew its stake in shares of VNET Group by 237.7% in the 3rd quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock worth $1,218,000 after acquiring an additional 210,124 shares in the last quarter. Finally, Anson Funds Management LP raised 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 valued at $1,836,000 after purchasing an additional 206,580 shares during the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Stock Up 1.0 %

Shares of NASDAQ VNET opened at $6.36 on Thursday. VNET Group has a 12-month low of $1.39 and a 12-month high of $6.56. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm has a market cap of $1.64 billion, a PE ratio of -2.86, a P/E/G ratio of 0.53 and a beta of -0.24. The company’s fifty day simple moving average is $4.43 and its 200 day simple moving average is $3.40.

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.