VNET Group, Inc. (NASDAQ:VNET) Short Interest Update

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 6,060,000 shares, an increase of 31.2% from the October 31st total of 4,620,000 shares. Based on an average daily volume of 2,020,000 shares, the days-to-cover ratio is presently 3.0 days.

VNET Group Trading Up 0.5 %

Shares of VNET Group stock traded up $0.02 during trading hours on Friday, reaching $3.88. The stock had a trading volume of 1,507,069 shares, compared to its average volume of 2,095,008. The stock's 50 day moving average is $3.69 and its 200 day moving average is $2.72. 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 twelve month low of $1.39 and a twelve month high of $4.50.

VNET Group (NASDAQ:VNET - Get Free Report) last posted its quarterly earnings data on Tuesday, August 27th. The information technology services provider reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.05. The company had revenue of $274.35 million during the quarter, compared to analysts' expectations of $266.56 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. As a group, equities analysts expect that VNET Group will post -0.01 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on VNET. StockNews.com upgraded VNET Group from a "sell" rating to a "hold" rating in a research report on Wednesday, August 21st. HSBC raised shares of VNET Group from a "hold" rating to a "buy" rating and set a $5.20 price objective on the stock in a report on Wednesday, October 9th. Hsbc Global Res raised shares of VNET Group to a "strong-buy" rating in a report on Wednesday, October 9th. 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. Finally, UBS Group boosted their price objective on VNET Group from $6.40 to $7.00 and gave the company a "buy" rating in a report on Friday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $4.78.

Institutional Investors Weigh In On VNET Group

Several institutional investors have recently bought and sold shares of VNET. Inspire Investing LLC purchased a new position in VNET Group in the 3rd quarter valued at $1,092,000. Millennium Management LLC lifted its stake in shares of VNET Group by 89.1% in the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider's stock worth $6,229,000 after buying an additional 1,400,683 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 acquiring an additional 37,322 shares during the last quarter. Ballentine Partners LLC purchased a new stake in VNET Group during the 2nd quarter valued at about $36,000. Finally, Creative Planning raised its holdings in VNET Group by 124.1% in the 3rd quarter. Creative Planning now owns 117,139 shares of the information technology services provider's stock valued at $478,000 after acquiring an additional 64,866 shares during the last quarter. 72.83% of the stock is currently owned by institutional investors and hedge funds.

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.