VNET Group Sees Unusually Large Options Volume (NASDAQ:VNET)

VNET Group, Inc. – Unsponsored ADR (NASDAQ:VNET) saw unusually large options trading activity on Wednesday. Traders purchased 9,952 call options on the company. This is an increase of 89% compared to the average daily volume of 5,273 call options.

VNET Group Stock Down 1.2%

Shares of VNET stock opened at $9.36 on Friday. VNET Group has a twelve month low of $4.65 and a twelve month high of $14.48. The stock has a market cap of $2.52 billion, a P/E ratio of -32.28, a P/E/G ratio of 0.78 and a beta of 0.01. The stock has a 50 day moving average of $11.08 and a 200 day moving average of $9.89. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 2.68.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Monday, March 16th. The information technology services provider reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). The firm had revenue of $384.07 million for the quarter, compared to analyst estimates of $368.64 million. VNET Group had a positive return on equity of 1.36% and a negative net margin of 2.48%. As a group, sell-side analysts expect that VNET Group will post -0.06 EPS for the current year.

Analyst Ratings Changes

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

Institutional Trading of VNET Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNET. Triata Capital Ltd increased its holdings in VNET Group by 4.6% in the fourth quarter. Triata Capital Ltd now owns 12,498,810 shares of the information technology services provider’s stock valued at $105,740,000 after buying an additional 550,841 shares in the last quarter. Infini Capital Management Ltd boosted its stake in shares of VNET Group by 39.2% during the 2nd quarter. Infini Capital Management Ltd now owns 9,758,083 shares of the information technology services provider’s stock worth $67,331,000 after acquiring an additional 2,747,661 shares in the last quarter. Norges Bank acquired a new stake in shares of VNET Group during the 2nd quarter valued at about $54,199,000. Farallon Capital Management LLC grew its position in shares of VNET Group by 14.5% during the 4th quarter. Farallon Capital Management LLC now owns 6,285,386 shares of the information technology services provider’s stock valued at $53,174,000 after acquiring an additional 796,266 shares during the period. Finally, Oxbow Capital Management HK Ltd increased its stake in shares of VNET Group by 64.3% in the 2nd quarter. Oxbow Capital Management HK Ltd now owns 5,750,000 shares of the information technology services provider’s stock valued at $39,675,000 after purchasing an additional 2,250,000 shares in the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

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.