VNET Group, Inc. (NASDAQ:VNET) Short Interest Up 53.5% in January

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 14,000,000 shares, a growth of 53.5% from the January 15th total of 9,120,000 shares. Based on an average daily volume of 3,880,000 shares, the short-interest ratio is currently 3.6 days.

VNET Group Trading Down 1.8 %

NASDAQ:VNET traded down $0.21 during mid-day trading on Monday, hitting $11.54. The company had a trading volume of 17,510,612 shares, compared to its average volume of 5,087,405. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. VNET Group has a fifty-two week low of $1.42 and a fifty-two week high of $13.04. The firm has a market cap of $2.97 billion, a P/E ratio of -5.20, a P/E/G ratio of 0.78 and a beta of -0.18. The business's fifty day moving average is $6.04 and its two-hundred day moving average is $4.18.

Institutional Trading of VNET Group

A number of hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in VNET Group in the third quarter valued at approximately $262,000. Creative Planning grew its holdings in shares of 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 buying an additional 64,866 shares during the period. Blue Trust Inc. grew its holdings in shares of VNET Group by 785.4% in the 3rd quarter. Blue Trust Inc. now owns 42,074 shares of the information technology services provider's stock valued at $172,000 after buying an additional 37,322 shares during the period. WT Asset Management Ltd bought a new stake in shares of VNET Group in the 3rd quarter valued at $326,000. Finally, GSA Capital Partners LLP raised its stake in VNET Group by 24.8% during the 3rd quarter. GSA Capital Partners LLP now owns 369,231 shares of the information technology services provider's stock worth $1,506,000 after buying an additional 73,311 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VNET. UBS Group raised 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 lifted their price objective for the company from $3.10 to $5.00 in a research report on Friday, November 29th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock 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.