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 in the month of February. As of February 28th, there was short interest totalling 21,230,000 shares, an increase of 17.3% from the February 13th total of 18,100,000 shares. Based on an average daily volume of 7,590,000 shares, the short-interest ratio is presently 2.8 days. Approximately 9.4% of the shares of the stock are short sold.

VNET Group Price Performance

Shares of VNET Group stock traded down $0.15 during trading on Friday, reaching $8.71. The company's stock had a trading volume of 10,251,821 shares, compared to its average volume of 3,245,155. The stock has a 50-day moving average price of $9.67 and a two-hundred day moving average price of $5.83. The stock has a market capitalization of $2.24 billion, a P/E ratio of -3.92, a price-to-earnings-growth ratio of 1.01 and a beta of 0.07. 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 one year low of $1.42 and a one year high of $16.13.

VNET Group (NASDAQ:VNET - Get Free Report) last announced its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. The company had revenue of $307.75 million during the quarter, compared to the consensus estimate of $284.88 million. As a group, sell-side analysts anticipate that VNET Group will post -0.06 EPS for the current fiscal year.

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Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VNET. Vident Advisory LLC raised its position in shares of VNET Group by 91.6% during the fourth quarter. Vident Advisory LLC now owns 283,296 shares of the information technology services provider's stock worth $1,343,000 after acquiring an additional 135,467 shares during the last quarter. Squarepoint Ops LLC bought a new stake in VNET Group during the 4th quarter worth about $132,000. Two Sigma Investments LP acquired a new position in VNET Group during the 4th quarter valued at about $2,911,000. Triata Capital Ltd bought a new position in shares of VNET Group in the 4th quarter valued at about $47,377,000. Finally, Sig Brokerage LP acquired a new stake in shares of VNET Group during the 4th quarter worth approximately $270,000. 72.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VNET shares. StockNews.com lowered VNET Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Nomura Securities upgraded VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. UBS Group boosted their target price on shares of VNET Group from $6.40 to $7.00 and gave the company a "buy" rating in a research note on Friday, November 29th. The Goldman Sachs Group upgraded shares of VNET Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. Finally, Citigroup boosted their price target on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $9.30.

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.