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

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 34,425 call options on the stock. This represents an increase of 938% compared to the average volume of 3,315 call options.

VNET Group Trading Down 5.0 %

VNET traded down $0.60 during trading on Friday, reaching $11.47. The company had a trading volume of 9,816,312 shares, compared to its average volume of 9,465,831. The firm's 50-day simple moving average is $8.45 and its 200 day simple moving average is $5.18. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -5.17, a PEG ratio of 1.01 and a beta of 0.07. VNET Group has a 12-month low of $1.42 and a 12-month high of $16.13. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83.

Analysts Set New Price Targets

Several equities research analysts have commented on VNET shares. Nomura Securities upgraded shares of VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group upgraded shares of 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 research report on Friday, November 29th. Finally, UBS Group boosted their price target on shares of VNET Group from $6.40 to $7.00 and gave the stock a "buy" rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $4.78.

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Hedge Funds Weigh In On VNET Group

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in 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 purchasing an additional 210,124 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in VNET Group in the 4th quarter worth about $152,000. JPMorgan Chase & Co. increased its stake in 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 worth $558,000 after purchasing an additional 136,783 shares in the last quarter. Virtu Financial LLC purchased a new position in VNET Group in the 3rd quarter worth about $519,000. Finally, SG Americas Securities LLC grew 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. Hedge funds and other institutional investors own 72.83% of the company's stock.

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.