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

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 32,500,000 shares, an increase of 53.1% from the February 28th total of 21,230,000 shares. Currently, 14.4% of the shares of the company are short sold. Based on an average daily volume of 9,200,000 shares, the short-interest ratio is currently 3.5 days.

VNET Group Stock Performance

VNET traded down $0.79 during midday trading on Thursday, reaching $7.33. The company had a trading volume of 4,624,384 shares, compared to its average volume of 3,564,217. The business has a 50-day moving average of $10.12 and a two-hundred day moving average of $6.18. 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 has a market cap of $1.89 billion, a P/E ratio of -3.30, a P/E/G ratio of 1.01 and a beta of 0.07.

VNET Group (NASDAQ:VNET - Get Free Report) last released its earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $307.75 million during the quarter, compared to analysts' expectations of $284.88 million. As a group, equities research analysts predict that VNET Group will post -0.06 earnings per share for the current fiscal year.

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Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VNET shares. Nomura Securities raised VNET Group to a "strong-buy" rating in a report on Friday, February 21st. StockNews.com downgraded VNET Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Finally, Citigroup boosted their price target on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $9.30.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Barclays PLC lifted its position in shares of VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 4,939 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of VNET Group during the fourth quarter worth about $41,000. Catalina Capital Group LLC bought a new stake in VNET Group during the 4th quarter valued at approximately $54,000. Wolverine Trading LLC purchased a new position in VNET Group in the 3rd quarter worth approximately $46,000. Finally, Hsbc Holdings PLC bought a new position in VNET Group in the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

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.