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

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

Institutional Investors Weigh In On VNET Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Catalina Capital Group LLC purchased a new stake in VNET Group in the 1st quarter valued at approximately $26,000. Ballentine Partners LLC acquired a new position in shares of VNET Group during the 2nd quarter worth $36,000. AXA S.A. purchased a new position in shares of VNET Group in the 2nd quarter valued at about $65,000. Headlands Technologies LLC boosted its holdings in VNET Group by 1,199.7% during the first quarter. Headlands Technologies LLC now owns 42,305 shares of the information technology services provider’s stock worth $66,000 after buying an additional 39,050 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in VNET Group by 135.9% in the fourth quarter. Virtu Financial LLC now owns 102,088 shares of the information technology services provider’s stock valued at $293,000 after buying an additional 58,817 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors and hedge funds.

VNET Group Trading Up 2.7 %

Shares of VNET opened at $4.19 on Wednesday. VNET Group has a 12-month low of $1.39 and a 12-month high of $4.39. The firm has a market capitalization of $1.08 billion, a P/E ratio of -1.59, a P/E/G ratio of 8.20 and a beta of -0.32. The firm has a 50-day moving average price of $2.47 and a 200 day moving average price of $2.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.47.

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

Analyst Ratings Changes

A number of analysts have recently commented on VNET shares. Citigroup initiated coverage on VNET Group in a research report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price objective for the company. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st.

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.