VNET Group, Inc. (NASDAQ:VNET – Get Free Report) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 8,610,000 shares, an increase of 21.8% from the July 15th total of 7,070,000 shares. Based on an average daily trading volume, of 798,300 shares, the days-to-cover ratio is currently 10.8 days.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.
Get Our Latest Stock Analysis on VNET
VNET Group Trading Up 2.3 %
VNET Group (NASDAQ:VNET – Get Free Report) last issued its quarterly earnings results on Wednesday, May 29th. The information technology services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.13). The business had revenue of $262.89 million during the quarter, compared to analyst estimates of $258.78 million. VNET Group had a negative net margin of 39.32% and a negative return on equity of 15.69%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Catalina Capital Group LLC acquired a new stake in VNET Group in the first quarter worth $26,000. Ballentine Partners LLC bought a new position in shares of VNET Group during the 2nd quarter worth about $36,000. AXA S.A. bought a new position in shares of VNET Group during the 2nd quarter worth about $65,000. Headlands Technologies LLC grew its stake 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 buying an additional 39,050 shares during the period. Finally, Jump Financial LLC increased its position in VNET Group by 101.6% in the 4th quarter. Jump Financial LLC now owns 84,406 shares of the information technology services provider’s stock valued at $242,000 after buying an additional 42,537 shares in the last quarter. 72.83% of the stock is owned by institutional investors.
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.
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