VNET Group Sees Unusually Large Options Volume (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) saw some unusual options trading on Friday. Traders acquired 8,015 call options on the stock. This is an increase of 1,500% compared to the typical volume of 501 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Citigroup began coverage on shares of VNET Group in a research report on Wednesday. They set a “buy” rating and a $4.00 price objective for the company.

Institutional Trading of VNET Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in shares of VNET Group by 89.1% in the second quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock valued at $6,229,000 after acquiring an additional 1,400,683 shares during the last quarter. Maso Capital Partners Ltd boosted its position in VNET Group by 15.6% in the 1st quarter. Maso Capital Partners Ltd now owns 1,853,771 shares of the information technology services provider’s stock valued at $2,873,000 after buying an additional 250,000 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of VNET Group in the 1st quarter valued at $328,000. Virtu Financial LLC boosted its holdings in VNET Group by 135.9% in the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock valued at $293,000 after acquiring an additional 58,817 shares during the last quarter. Finally, Jump Financial LLC lifted its position in VNET Group by 101.6% during the 4th quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock valued at $242,000 after purchasing an additional 42,537 shares during the period. Institutional investors own 72.83% of the company’s stock.

VNET Group Stock Performance

VNET opened at $2.79 on Friday. The stock’s 50 day simple moving average is $2.13 and its 200-day simple moving average is $1.94. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.47. The stock has a market cap of $718.15 million, a PE ratio of -1.06, a P/E/G ratio of 9.97 and a beta of -0.32. VNET Group has a 1 year low of $1.39 and a 1 year high of $3.87.

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.