VNET Group Target of Unusually Large Options Trading (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) saw some unusual options trading activity on Friday. Traders purchased 5,475 put options on the company. This represents an increase of approximately 26% compared to the typical daily volume of 4,345 put options.

Analyst Upgrades and Downgrades

VNET has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of VNET Group from $6.40 to $7.00 and gave the company a “buy” rating in a research note on Friday, November 29th. The Goldman Sachs Group raised shares of VNET Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $3.10 to $5.00 in a research report on Friday, November 29th. Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Citigroup raised their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $7.98.

Hedge Funds Weigh In On VNET Group

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in VNET Group by 229.3% in the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 4,939 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of VNET Group during the fourth quarter valued at $41,000. Wolverine Trading LLC acquired a new position in shares of VNET Group during the third quarter valued at $46,000. Catalina Capital Group LLC acquired a new position in shares of VNET Group during the fourth quarter valued at $54,000. Finally, Hsbc Holdings PLC acquired a new position in shares of VNET Group during the fourth quarter valued at $66,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

VNET Group Stock Performance

VNET Group stock opened at $11.65 on Friday. The company has a market cap of $3.00 billion, a PE ratio of -5.25, a P/E/G ratio of 1.01 and a beta of 0.06. The company has a fifty day moving average price of $9.09 and a two-hundred day moving average price of $5.51. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83. VNET Group has a 12 month low of $1.42 and a 12 month high of $16.13.

VNET Group (NASDAQ:VNET) last released its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $307.75 million during the quarter, compared to analyst estimates of $284.88 million. VNET Group had a negative return on equity of 5.68% and a negative net margin of 28.54%. Research analysts expect that VNET Group will post -0.06 earnings per share for the current year.

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.