Investors Buy High Volume of VNET Group Call Options (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) was the recipient of some unusual options trading activity on Monday. Investors bought 15,633 call options on the company. This represents an increase of approximately 215% compared to the typical volume of 4,969 call options.

Institutional Trading of VNET Group

A number of institutional investors and hedge funds have recently made changes to their positions in VNET. Triata Capital Ltd acquired a new position in VNET Group in the fourth quarter valued at $47,377,000. Millennium Management LLC increased its stake 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 worth $26,441,000 after acquiring an additional 181,749 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of VNET Group by 4.6% in the 4th 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. acquired a new position in shares of VNET Group in the 4th quarter valued at about $7,183,000. Finally, Bank of America Corp DE grew its holdings 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 worth $5,682,000 after purchasing an additional 1,029,963 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Nomura Securities upgraded VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. Citigroup increased their price target on shares of VNET Group from $16.10 to $20.00 and gave the company a “buy” rating in a report on Friday, March 14th. StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th. The Goldman Sachs Group upgraded shares of VNET Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. Finally, UBS Group lifted their price target on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research report on Friday, November 29th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, VNET Group currently has an average rating of “Buy” and an average target price of $9.30.

VNET Group Trading Up 3.2 %

Shares of VNET Group stock opened at $8.99 on Tuesday. VNET Group has a fifty-two week low of $1.42 and a fifty-two week high of $16.13. The business’s fifty day moving average is $9.75 and its two-hundred day moving average is $5.92. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.46. The firm has a market cap of $2.31 billion, a PE ratio of -4.05, a P/E/G ratio of 1.01 and a beta of 0.07.

VNET Group (NASDAQ:VNET) 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 analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $307.75 million during the quarter, compared to analysts’ expectations of $284.88 million. VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. Analysts anticipate that VNET Group will post -0.06 earnings per share for the current year.

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.