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

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 18,100,000 shares, a growth of 29.3% from the January 31st total of 14,000,000 shares. Based on an average daily volume of 6,270,000 shares, the short-interest ratio is currently 2.9 days.

Institutional Trading of VNET Group

A number of institutional investors and hedge funds have recently modified their holdings of VNET. Geode Capital Management LLC lifted its stake in VNET Group by 237.7% in the third quarter. Geode Capital Management LLC now owns 298,539 shares of the information technology services provider's stock valued at $1,218,000 after buying an additional 210,124 shares during the period. Asset Management One Co. Ltd. bought a new position in shares of VNET Group during the fourth quarter worth about $152,000. JPMorgan Chase & Co. grew its holdings in shares of VNET Group by 136,783.0% during the third quarter. JPMorgan Chase & Co. now owns 136,883 shares of the information technology services provider's stock worth $558,000 after buying an additional 136,783 shares in the last quarter. Virtu Financial LLC bought a new position in VNET Group in the third quarter valued at approximately $519,000. Finally, SG Americas Securities LLC lifted its position in shares of VNET Group by 534.6% in the fourth quarter. SG Americas Securities LLC now owns 407,327 shares of the information technology services provider's stock valued at $1,931,000 after buying an additional 343,140 shares during the last quarter. 72.83% of the stock is currently owned by institutional investors.

VNET Group Stock Performance

VNET stock traded down $0.57 during trading on Friday, reaching $11.50. 4,641,824 shares of the company's stock were exchanged, compared to its average volume of 9,345,435. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. VNET Group has a 1-year low of $1.42 and a 1-year high of $16.13. The company's fifty day moving average price is $8.45 and its 200-day moving average price is $5.18. The firm has a market cap of $2.96 billion, a PE ratio of -5.18, a P/E/G ratio of 1.01 and a beta of -0.18.

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Analyst Ratings Changes

A number of analysts have issued reports on VNET shares. Nomura Securities raised VNET Group to a "strong-buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group upgraded VNET Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. Finally, UBS Group increased their price target on 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price 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.