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

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 9,620 call options on the company. This is an increase of 459% compared to the average volume of 1,721 call options.

VNET Group Trading Down 1.8 %

Shares of VNET traded down $0.21 during mid-day trading on Friday, reaching $11.54. 17,510,612 shares of the company's stock traded hands, compared to its average volume of 5,087,405. The stock's 50-day moving average is $6.04 and its two-hundred day moving average is $4.17. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.46. VNET Group has a 12 month low of $1.42 and a 12 month high of $13.04.

Hedge Funds Weigh In On VNET Group

A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of VNET Group in the third quarter valued at $262,000. Creative Planning boosted its position in shares of VNET Group by 124.1% during the 3rd quarter. Creative Planning now owns 117,139 shares of the information technology services provider's stock worth $478,000 after purchasing an additional 64,866 shares in the last quarter. Blue Trust Inc. boosted its position in VNET Group by 785.4% during the third quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider's stock worth $172,000 after purchasing an additional 37,322 shares in the last quarter. WT Asset Management Ltd purchased a new stake in VNET Group in the 3rd quarter valued at approximately $326,000. Finally, GSA Capital Partners LLP raised its position in shares of VNET Group by 24.8% in the third quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider's stock valued at $1,506,000 after buying an additional 73,311 shares during the last quarter. Institutional investors and hedge funds own 72.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VNET. UBS Group upped 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. The Goldman Sachs Group upgraded VNET Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $3.10 to $5.00 in a report on Friday, November 29th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, VNET Group currently has an average rating of "Buy" and an average price target of $4.78.

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.