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

VNET Group, Inc. (NASDAQ:VNET) was the recipient of some unusual options trading activity on Monday. Stock investors acquired 9,989 put options on the company. This is an increase of 1,010% compared to the typical daily volume of 900 put options.

Hedge Funds Weigh In On VNET Group

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC increased its stake in shares of VNET Group by 135.9% in the 4th quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock worth $293,000 after acquiring an additional 58,817 shares during the last quarter. Catalina Capital Group LLC purchased a new position in VNET Group during the first quarter worth about $26,000. Susquehanna Fundamental Investments LLC acquired a new position in VNET Group in the 1st quarter valued at about $328,000. Headlands Technologies LLC boosted its holdings in 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. Finally, Maso Capital Partners Ltd grew its stake in shares of 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 period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Price Performance

Shares of NASDAQ:VNET traded up $0.23 during midday trading on Monday, hitting $4.19. The company’s stock had a trading volume of 1,986,130 shares, compared to its average volume of 1,500,956. The company has a market cap of $1.08 billion, a P/E ratio of -1.59, a price-to-earnings-growth ratio of 8.20 and a beta of -0.32. VNET Group has a 12-month low of $1.39 and a 12-month high of $4.39. The business’s 50 day simple moving average is $2.43 and its 200 day simple moving average is $2.12. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.87 and a current ratio of 0.87.

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

Analysts Set New Price Targets

Several research firms recently issued reports on VNET. Citigroup began 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. StockNews.com upgraded VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st.

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.