Traders Purchase Large Volume of Call Options on VNET Group (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) was the target of some unusual options trading activity on Wednesday. Investors acquired 6,117 call options on the stock. This is an increase of approximately 420% compared to the average volume of 1,176 call options.

Institutional Investors Weigh In On VNET Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wolverine Trading LLC bought a new stake in shares of VNET Group during the 3rd quarter valued at about $46,000. Blue Trust Inc. grew its position in shares of VNET Group by 29.1% during the 4th quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock valued at $257,000 after acquiring an additional 12,237 shares during the period. Walleye Capital LLC bought a new stake in VNET Group during the third quarter valued at about $115,000. AXA S.A. bought a new position in shares of VNET Group in the second quarter worth about $65,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of VNET Group during the 3rd quarter valued at approximately $191,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group upped their target price on VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a report on Friday, November 29th. The Goldman Sachs Group upgraded VNET Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $3.10 to $5.00 in a research note on Friday, November 29th. Hsbc Global Res raised shares of VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, HSBC raised VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price target for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $4.78.

VNET Group Stock Up 3.3 %

Shares of NASDAQ:VNET traded up $0.21 during trading on Wednesday, hitting $6.51. The stock had a trading volume of 1,696,516 shares, compared to its average volume of 3,940,855. 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 company has a market capitalization of $1.67 billion, a PE ratio of -2.92, a PEG ratio of 0.53 and a beta of -0.24. The firm’s fifty day moving average is $4.38 and its 200 day moving average is $3.38. VNET Group has a 12 month low of $1.39 and a 12 month high of $6.56.

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.