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

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 9,952 call options on the company. This represents an increase of 89% compared to the typical volume of 5,273 call options.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VNET Group in a report on Monday, December 29th. Jefferies Financial Group reissued a “buy” rating and issued a $23.55 price target on shares of VNET Group in a research note on Monday. Finally, Bank of America restated a “buy” rating on shares of VNET Group in a research report on Monday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.08.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VNET. Global Retirement Partners LLC bought a new position in VNET Group during the 4th quarter valued at approximately $27,000. EverSource Wealth Advisors LLC increased its stake in shares of VNET Group by 52.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,157 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 1,426 shares during the period. Allianz SE purchased a new position in shares of VNET Group during the fourth quarter valued at approximately $50,000. Headlands Technologies LLC bought a new position in shares of VNET Group during the second quarter valued at approximately $55,000. Finally, Persistent Asset Partners Ltd purchased a new stake in VNET Group in the third quarter worth $100,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

VNET Group Trading Up 1.5%

NASDAQ:VNET opened at $9.47 on Thursday. The firm has a market capitalization of $2.55 billion, a P/E ratio of -32.66, a P/E/G ratio of 0.43 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 2.68. The company has a fifty day moving average of $11.10 and a 200 day moving average of $9.89. VNET Group has a 52 week low of $4.65 and a 52 week high of $14.48.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings results on Monday, March 16th. The information technology services provider reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). VNET Group had a positive return on equity of 1.36% and a negative net margin of 2.48%.The firm had revenue of $384.07 million during the quarter, compared to the consensus estimate of $368.64 million. On average, research analysts predict that VNET Group will post -0.06 earnings per share for the current year.

About VNET Group

VNET Group, Inc (NASDAQ: VNET) is a leading carrier-neutral internet data center (IDC) services provider in China. Established in 1999 and headquartered in Beijing, the company delivers a full spectrum of infrastructure solutions that support the growing digital economy. Its core offerings include data center colocation, managed hosting, network connectivity, and disaster recovery services designed to meet the performance and reliability requirements of enterprise and internet content customers.

The company’s product portfolio spans private cloud, public cloud and hybrid cloud deployments, enabling clients to scale computing resources on demand.