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

VNET Group, Inc. (NASDAQ:VNET - Get Free Report) saw some unusual options trading activity on Monday. Stock investors purchased 15,633 call options on the company. This is an increase of 215% compared to the typical volume of 4,969 call options.

VNET Group Stock Performance

Shares of NASDAQ VNET traded down $0.78 during midday trading on Friday, hitting $8.24. 3,490,136 shares of the company's stock traded hands, compared to its average volume of 3,463,111. The firm has a fifty day moving average of $9.94 and a 200 day moving average of $6.00. VNET Group has a 1 year low of $1.42 and a 1 year high of $16.13. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -3.71, a price-to-earnings-growth ratio of 1.01 and a beta of 0.07.

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

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Analysts Set New Price Targets

A number of brokerages have recently commented on VNET. Nomura Securities raised VNET Group to a "strong-buy" rating in a research report on Friday, February 21st. UBS Group boosted their target price on VNET Group from $6.40 to $7.00 and gave the stock a "buy" rating in a report on Friday, November 29th. Citigroup raised their price target on VNET Group from $16.10 to $20.00 and gave the company a "buy" rating in a report on Friday, March 14th. The Goldman Sachs Group raised VNET Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. Finally, StockNews.com cut shares of VNET Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $9.30.

Hedge Funds Weigh In On VNET Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Triata Capital Ltd purchased a new position in shares of VNET Group during the 4th quarter valued at about $47,377,000. Millennium Management LLC lifted its holdings in VNET Group by 3.4% during the fourth quarter. Millennium Management LLC now owns 5,578,371 shares of the information technology services provider's stock valued at $26,441,000 after purchasing an additional 181,749 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of VNET Group by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,145,529 shares of the information technology services provider's stock worth $10,170,000 after purchasing an additional 93,891 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of VNET Group in the fourth quarter worth $7,183,000. Finally, Bank of America Corp DE raised its position in shares of VNET Group by 610.2% during the 4th quarter. Bank of America Corp DE now owns 1,198,750 shares of the information technology services provider's stock valued at $5,682,000 after purchasing an additional 1,029,963 shares during the period. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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.