VNET Group Target of Unusually High Options Trading (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) was the recipient of unusually large options trading activity on Friday. Investors purchased 5,475 put options on the company. This is an increase of 26% compared to the average volume of 4,345 put options.

VNET Group Trading Down 4.6 %

Shares of NASDAQ VNET traded down $0.52 during midday trading on Tuesday, reaching $10.86. 5,729,896 shares of the stock were exchanged, compared to its average volume of 9,905,738. The company has a market capitalization of $2.80 billion, a P/E ratio of -4.90, a P/E/G ratio of 1.01 and a beta of 0.07. The stock has a 50 day moving average price of $9.35 and a 200-day moving average price of $5.68. VNET Group has a 52-week low of $1.42 and a 52-week high of $16.13. 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 (NASDAQ:VNET - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share (EPS) 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 firm had revenue of $307.75 million during the quarter, compared to analysts' expectations of $284.88 million. Equities research analysts expect that VNET Group will post -0.06 earnings per share for the current fiscal year.

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Institutional Trading of VNET Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider's stock worth $34,000 after buying an additional 4,939 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of VNET Group during the 4th quarter valued at $41,000. Catalina Capital Group LLC acquired a new position in shares of VNET Group during the 4th quarter valued at $54,000. Wolverine Trading LLC acquired a new position in shares of VNET Group during the 3rd quarter valued at $46,000. Finally, Hsbc Holdings PLC acquired a new position in shares of VNET Group during the 4th quarter valued at $66,000. Hedge funds and other institutional investors own 72.83% of the company's stock.

Wall Street Analyst Weigh In

VNET has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised shares of 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 report on Friday, November 29th. UBS Group increased their price target 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. Nomura Securities raised shares of VNET Group to a "strong-buy" rating in a report on Friday, February 21st. Citigroup increased their price objective on shares of VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday. Finally, StockNews.com downgraded shares of VNET Group from a "hold" rating to a "sell" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, VNET Group currently has a consensus rating of "Buy" and a consensus target price of $7.98.

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.