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

VNET Group, Inc. (NASDAQ:VNET) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 6,117 call options on the stock. This is an increase of approximately 420% compared to the typical volume of 1,176 call options.

Hedge Funds Weigh In On VNET Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew its position in VNET Group by 29.1% during the 4th quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock worth $257,000 after acquiring an additional 12,237 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of VNET Group by 534.6% in 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 purchasing an additional 343,140 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of VNET Group by 136,783.0% in the 3rd 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 last quarter. Virtu Financial LLC bought a new position in VNET Group during the third quarter worth $519,000. Finally, Geode Capital Management LLC raised its stake in VNET Group by 237.7% during the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider’s stock worth $1,218,000 after buying an additional 210,124 shares during the last quarter. Institutional investors own 72.83% of the company’s stock.

VNET Group Stock Up 3.3 %

Shares of VNET stock traded up $0.21 during trading on Wednesday, reaching $6.51. The company’s stock had a trading volume of 1,696,516 shares, compared to its average volume of 3,940,855. The business has a fifty day moving average price of $4.38 and a 200-day moving average price of $3.38. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. VNET Group has a one year low of $1.39 and a one year high of $6.56. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -2.92, a price-to-earnings-growth ratio of 0.53 and a beta of -0.24.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VNET. Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. UBS Group boosted their price target on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday, November 29th. The Goldman Sachs Group raised shares of VNET Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $3.10 to $5.00 in a report on Friday, November 29th. Finally, HSBC raised shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $4.78.

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.