Traders Buy Large Volume of Put Options on VNET Group (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) was the target of some unusual options trading activity on Monday. Investors acquired 9,989 put options on the company. This represents an increase of 1,010% compared to the average daily volume of 900 put options.

Analyst Upgrades and Downgrades

VNET has been the topic of a number of research analyst reports. StockNews.com raised VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Citigroup initiated coverage on VNET Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price objective on the stock.

VNET Group Stock Up 5.8 %

Shares of VNET stock traded up $0.23 during trading on Monday, reaching $4.19. The company’s stock had a trading volume of 1,986,130 shares, compared to its average volume of 1,500,956. VNET Group has a 1-year low of $1.39 and a 1-year high of $4.39. The stock’s 50-day moving average price is $2.43 and its 200 day moving average price is $2.12. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -1.59, a P/E/G ratio of 8.20 and a beta of -0.32. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.87.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. The business had revenue of $274.35 million during the quarter, compared to the consensus estimate of $266.56 million. On average, research analysts anticipate that VNET Group will post 0.02 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in shares of VNET Group by 89.1% in the 2nd quarter. Millennium Management LLC now owns 2,973,358 shares of the information technology services provider’s stock valued at $6,229,000 after buying an additional 1,400,683 shares during the period. AXA S.A. acquired a new stake in VNET Group in the second quarter valued at approximately $65,000. Ballentine Partners LLC purchased a new position in VNET Group in the second quarter worth approximately $36,000. Maso Capital Partners Ltd grew its holdings in VNET Group by 15.6% during the 1st quarter. Maso Capital Partners Ltd now owns 1,853,771 shares of the information technology services provider’s stock worth $2,873,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in shares of VNET Group by 1,199.7% in the 1st quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock valued at $66,000 after purchasing an additional 39,050 shares during the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

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.